Value addition needs to boost exports, IMF tells Pakistan
The International Monetary Fund (IMF) said that compared to other countries in the region, Pakistan is a very weak country in increasing exports. The IMF stated in its report that payment restrictions, tariff and non-tariff barriers to imports, and exchange rates are the main reasons for Pakistan’s low exports.
According to the report, Pakistan should look at the atmosphere of competition in the global markets for exports and imports. More value addition is needed in the production of local industries to increase exports and adopt modern technology for increasing the production of local industries and value addition.
It has been added by the IMF that Pakistan’s exports are very low compared to Bangladesh, India, Vietnam, Thailand, and other countries.
The report by the IMF also said that the performance of Pakistan’s exports in the global market is not much better than that of other countries in the region.
On the other hand, it has also been reported that the IMF has requested a plan from the economic team to increase exports.
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