Pakistan’s exports will increase up to US $ 36 bn in 5 years: IMF

[Siasi Jasoos]

ISLAMABAD: The International Monetary Fund (IMF) has projected that Pakistan’s exports will increase to US $ 36.7 billion in five years by the year 2023-24.

The pressure of current account deficit on the country will also ease out gradually from its peak US $ 19.9 billion in 2017-18 to as low as $6.95 billion in current fiscal year while US $ 5.49 billion in 2020-21, the IMF said in its recently published staff report on Pakistan.

The trade deficit would also decline to US $ 24.9 billion in current fiscal year from US $ 29.46 billion in 2018-19, however it will further go up to US $ 26.8 billion mainly on the back of growing import needs in coming years.

Meanwhile the report also estimated that due to policy measures committed by the Pakistan authorities, the Federal Board of Revenue (FBR) is likely to collect around Rs 5.5 trillion during current fiscal year which would increase to Rs 7.001 trillion in next year while in 2021-2022 the revenues would reach to Rs 8.3 trillion and Rs 9.48 billion in the subsequent year.

The overall revenues of the country will surge to Rs 7.165 trillion in 2019-20 followed by Rs 8.9 trillion in 2020-21, Rs 10.6 trillion in 2021-22, Rs 12.12 trillion in 2022-23, and Rs 13.37 billion in 2023-24.

With less than 1.5 million taxpayers filing tax returns and tax compliance generally very low, tax policy and tax administration measures will center on broadening the tax base while maintaining a low tax rate, aiming to ensure progress of the tax system, it added.

Staff and the authorities concurred that an additional 4-5 percentage points of GDP in additional tax revenues could be achieved by the end of the program, bringing Pakistan tax ratio in line with peer Emerging Markets.

In the near term, measures include removing exemptions and preferential treatment to reduce distortions in the tax system and broaden the tax base. These include the removal of GST exemptions and preferential rates, except for basic food and medicines, a measure that would significantly improve revenues, the report added.

Greater inter-provincial harmonization and coordination of GST will also simplify filing procedures and increase compliance.—APP

http://www.aaj.tv/2019/07/pakistans-exports-will-increase-up-to-us-36-bn-in-5-years-imf

 

[Muhammad Jibran]

This looks like IMF marketing report more than Pakistan's economic projections :D

 

[insouciant]

I agree! Who'd be actually WORKING to grow export sector? Afterall, Pakistan is only filled with Hijras like you who only know how to dance that goes towards zero export sector growth! ? ? ? ?

This looks like IMF marketing report more than Pakistan's economic projections :D

 

[shafali]

The report sounds promising. It seems that Pakistan will soon turn the corner. All credit must go to Imran Khan who is working tirelessly for a better Pakistan.

 

[Citizen X]

I agree! Who'd be actually WORKING to grow export sector? Afterall, Pakistan is only filled with Hijras like you who only know how to dance that goes towards zero export sector growth! ? ? ? ?

Translation : Lo G phir ghauri aya! LOL

 

[islamabadi]

"Will increase"
"To become"
"Planned to"
"projected to "
"Pakistan to hit Oil Jackpot" in 3 weeks from Kekra field..... we are already enjoying the proceeds from the oil jackpot.....our crude oil reserves are now bigger than Iraq and Kuwait combined....Freaking PTI joker selling more dreams to the hopeless

 

[waqarwah81]

Stupiiid people were expecting miracles in one years and they don't realise what mess was the economy in and they still dont have any idea why we are in such a mess.Give at least 4 years to this government and then comment on economy.

 

[chandaa]

All indicators are positive, the Govt is taking unpopular decisions which will benefit Pakistan and its economy in the long run. Patwariyoon aur mix achar opposition ko aisey he paichas nahin lagey huey. They know Khan will turn the tables!

 

[FahadBhatti]

These things will happen if the a lot of things go according to plan , fingers crossed.

 

[Nice2MU]

Stupiiid people were expecting miracles in one years and they don't realise what mess was the economy in and they still dont have any idea why we are in such a mess.Give at least 4 years to this government and then comment on economy.

ابھی راجہ ہندوستانی ڈان ، ٹریبیون یا دی نیوز کی ایک اسٹوری لاتا ہوگا جس میں ہر چیز منفی دکھائیں ہوگی۔۔​

 

[Nice2MU]

All indicators are positive, the Govt is taking unpopular decisions which will benefit Pakistan and its economy in the long run. Patwariyoon aur mix achar opposition ko aisey he paichas nahin lagey huey. They know Khan will turn the tables!

انہی سخت اقدامات کی وجہ سے پی ٹی آئی کو قبائلی علاقوں میں کچھ دھچکا بھی لگا ہے لیکن حکومت نے اسکی پرواہ نہیں کی اور کرنی بھی نہیں چاہیے تھی کیونکہ کے پی میں پی ٹی آئی پہلے ہی بہت مضبوط ہے۔۔۔

جب ملک کی اکانومی ٹھیک ہو جائیگی تو یہ ساری سیٹیں پی ٹی آئی واپس جیت سکتی ہے۔۔​

 

[arafay]

these are all estimates by imf. Possible but rather unlikely.

 

[GreenMaple]

This looks like IMF marketing report more than Pakistan's economic projections :D

Tumhain paanch (5) saal pehlay hi tattian lag gaey hein!