IMF Urges Pakistan to Enhance Export Strategy

The International Monetary Fund (IMF) has found Pakistan trailing far behind other neighboring countries in terms of export growth due to payment restrictions, tariff and non-tariff barriers to imports, and exchange rate issues, sources told ProPakistani. According to the lender’s findings, Pakistan’s exports significantly lag behind those of Bangladesh, India, Vietnam, Thailand, and other regional nations. The IMF has highlighted that the country must diversify its export sectors beyond textiles and agricultural products to achieve meaningful growth. The IMF wants Pakistan to observe and adapt to the competitive trends in global markets for both exports and imports. The IMF wants to add value to the domestic industry to boost exports. The lender sees modern technology adoption in local industries as crucial for increasing productivity and value addition in Pakistan. The agency has requested the economic team to develop a comprehensive plan to enhance exports.