The International Monetary Fund (IMF) has caught Pakistan’s lie.
The touched Pakistan’s difficulties are not taking the name of being reduced. Pakistan, who roams around the world for debt, is now trying to cheat the same institution, which is engaged in saving its sinking Naiya. The case is related to manipulation in business data worth Rs 11 billion i.e. about Rs 97,613 crore. When the IMF matched the government figures of Pakistan, the land slipped. Now the IMF has bluntly told Pakistan that it should publicly explain the reason for this huge gap and give the account of the pie. This incident has not only discounted the global credibility of Pakistan, but has also raised serious questions on the credibility of its economic data.
11 billion dollars scamped in statistics
This whole matter came to light when Pakistan There was a huge difference in the business data released by different government departments. According to a report by ‘The Express Tribune’, there has been a huge discrepancy of $ 11 billion in the import data of the last two financial years. This strictness of the IMF has put the accuracy of the calculation of Pakistan’s economic indicators, especially the current account surplus of the country. This is the same data on the basis of which institutions like IMF assess the economic health of a country and decide to provide financial help to it. In such a situation, manipulation in such a large scale points indicates a serious financial fraud.
Pakistan’s poll one by one
According to the report, during the financial year 2023-24, Pakistan’s Revenue Automation Limited (Pral) issued the statistics of imports, $ 5.1 billion less than the statistics of Pakistan Single Window (PSW). Even more shocking is that in the last financial year this difference was worth $ 5.7 billion. Technically, the data of PSW is considered more reliable and comprehensive and the same data also uses State Bank of Pakistan (SBP). When the IMF questioned these figures from Pakistan’s Bureau of Statistics (PBS) and the Planning Ministry before its review meeting, Pakistani authorities lost sweat. The IMF clearly stated that the government should adopt a clear policy regarding this disturbance in the data and the process of fixing it so that the government and those using the data do not become a gap of mistrust.
Had to accept his own mistake
Following the strictness of the IMF, Pakistani officials finally accepted that the figures sent by them to the International Trade Center (ITC) in Geneva were incomplete and some import data were not included. To hide his mistake, he made an excuse that all this was due to transition from PSW to PSW of the main trade data source. Actually, PRAL used to cover only seven types of goods announcements, while the new PSW system processes 15 types of announcements, which is far wider.
Investigations revealed that the most important difference was in the textile sector, where the imports of about $ 3 billion were disappeared from official figures. Apart from this, there was also less reporting of $ 1 billion in imports of metal groups. Now the biggest difficulty is that despite the demand for transparency of the IMF, Pakistani officials are hesitating to make these revised data public. They are afraid that if the correct figures are revealed, then the country’s economic growth rate and export -related calculation will be exposed and a very bad picture of the economy will be revealed to the world.