Islamabad [Pakistan], Oct 28 : Pakistan's economic data has increasingly turned into a theatre of illusion where figures are deployed not to reveal but to conceal reality. A pattern of misrepresentation in official economic and trade statistics is eroding policy credibility, investor confidence, and public trust in state institutions, as reported by The Express Tribune.
According to The Express Tribune, inflated growth claims and selective accounting have become routine in Pakistan's economic reporting. Official statements routinely cite GDP growth while overlooking industrial stagnation, mounting unemployment, and structural weaknesses. Frequent changes in base years and sectoral adjustments create an image of resilience that masks deeper fragilities.
Equally troubling are discrepancies in trade data. A glaring $11 billion gap in import reporting caused by incomplete integration between Pakistan Revenue Automation Limited (PRAL) and the Pakistan Bureau of Statistics (PBS). Omitted customs categories have distorted trade balances, while officials concede that lapses in data synchronisation have opened doors to tax evasion and money laundering.
The problem extends beyond trade. The Economic Census 2024, touted as "historic", has drawn criticism for excluding informal sectors such as street vendors and freelancers, vital components of Pakistan's real economy.
This omission, coupled with reliance on AI-based classifications and limited rural sampling, has compromised the census's credibility and exaggerated the government's narrative of progress. Experts warn that such statistical manipulation has grave implications.
Misstated data leads to misguided fiscal policies and flawed tariff structures, while undermining investor confidence and fuelling scepticism among global lenders, as cited by The Express Tribune.
The government's resistance to IMF scrutiny of a reported $30 billion trade gap further highlights the fragility of official figures; unless the state abandons its addiction to statistical theatrics, the numbers will continue to mislead, and the economy, already fragile, may lose its last vestiges of credibility, as reported by The Express Tribune.
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