Pakistan’s attempts to boost exports are noticeably less than those of other nations in the area, according to the International Monetary Fund (IMF).
The IMF found in its assessment that a number of important variables, such as currency rates, tariffs, non-tariff obstacles to imports, and payment restrictions, were responsible for Pakistan’s poor export levels.
For both imports and exports, the research stressed Pakistan’s need to pay close attention to and adjust to the competitive dynamics of international markets. In order to increase exports, the IMF recommended that Pakistan concentrate on enhancing the value addition of output from its local sector and use contemporary technology to accomplish so.
Bangladesh, India, Vietnam, Thailand, and other regional nations have higher exports than Pakistan, according to the IMF. It highlighted Pakistan’s need to expand its export markets beyond apparel and farm goods.
The report further stated that Pakistan’s performance in the global export market is subpar compared to other regional countries.
Additionally, sources from the Ministry of Commerce noted that the IMF has requested a comprehensive plan from Pakistan’s economic team to address and improve the country’s export performance.
