The International Monetary Fund (IMF) discovered that Pakistan was lagging behind its neighbors in terms of export development as a result of payment limitations, tariff and non-tariff import obstacles, and currency rate problems.
Pakistan’s exports considerably trail those of Bangladesh, India, Vietnam, Thailand, and other neighboring countries, according to the lender’s assessments. The IMF has emphasized that in order to attain significant development, the nation needs diversify its export industries beyond textiles and agricultural exports.
For both imports and exports, Pakistan is expected by the IMF to keep an eye on and adjust to the competitive trends in international markets. To increase exports, the IMF seeks to improve the quality of the local sector.
The lender believes that using contemporary technologies in regional sectors is essential to raising output and adding value in Pakistan. The economic team has been asked by the agency to create a detailed export-boosting plan.
