The Commerce Committee probes $11 billion import data gap, assures no impact on balance of payments, following recent concerns over discrepancies between official trade records and import figures. The committee has launched an in-depth inquiry to identify the reasons behind the mismatch and ensure data accuracy.
According to the Ministry of Commerce, the issue came to light when figures reported by the Federal Board of Revenue (FBR) and the Pakistan Bureau of Statistics (PBS) showed significant differences. Officials emphasized that although the Commerce Committee probes $11 billion import data gap, assures no impact on balance of payments, the government’s financial position remains stable and unaffected.
Commerce Secretary Muhammad Khurram Agha briefed the committee, stating that the data gap could be due to technical reporting delays, exchange rate fluctuations, or variations in customs documentation. He clarified that these differences do not reflect any loss of foreign exchange or mismanagement of funds.
The committee has directed relevant departments to synchronize data collection and establish a digital monitoring system for real-time trade updates. Members stressed that transparency in trade data is essential for economic planning and policymaking.
Officials also highlighted that Pakistan’s balance of payments remains under control, supported by consistent export growth and remittance inflows. The assurance was made after thorough analysis, reaffirming that the country’s financial stability is not at risk.
Economists welcomed the investigation but urged for swift action to prevent similar discrepancies in the future. They noted that accurate trade data is vital for assessing market trends and maintaining investor confidence.
The Commerce Committee probes $11 billion import data gap, assures no impact on balance of payments as part of its broader effort to enhance coordination between government institutions and improve data reliability.
The final report of the committee is expected in the coming weeks, with recommendations aimed at strengthening Pakistan’s trade reporting framework.
Read More : Senate Committee Reviews Tax Administration And Financial Legislation
