Wait...

Online Export Import Data Search

Complete Training Video : Click Here

Export, import figures: PBS fails to rationalize discrepancy.


Date: 11-07-2018
Subject: Export, import figures: PBS fails to rationalize discrepancy
Pakistan Bureau of Statistics (PBS) and the State Bank of Pakistan have reportedly failed to rationalize the discrepancy of billions of dollars in export and import figures due to variation in the duration of realization and recording of transactions, well-informed sources told Business Recorder.

According to SBP's annual report for 2012-13, the trade figures reported by SBP in the balance of payments do not match the information provided by the PBS because trade statistics compiled by the SBP are based on exchange record data, which depend on the actual receipt and payment of foreign exchange, whereas the PBS records data based on the physical movement of goods (customs record).

Furthermore, SBP reports both exports and imports as free on board (fob), while PBS records exports as free on board (fob) while imports include the cost of freight and insurance (CIF). In addition, the variation in import data between the two entities also arises due to differences in data coverage, eg, SBP import data does not include Non-Repatriable Investments (NRI) by non-resident Pakistanis, imports under foreign assistance, land-borne imports with Afghanistan, etc. In export data, these differences emerge as PBS statistics do not take into account short shipments and cancellations, while SBP data does not take into account land borne exports to Afghanistan, export samples given to prospective buyers by exporters, exports by EPZs, etc.

Unconfirmed reports suggest that the discrepancy in PBS and SBP trade figures hover around $ 3 billion each year which is adjusted from time to time. This period ranges from 15 days to 3 months.

An official informed this scribe that PBS collects data from Customs Collectorates, which is based on actualization of exports at the time of Bill of Lading but SBP does not record it in its accounts until the amount is remitted in its accounts.

"This discrepancy is settled on an annual basis as it is not possible to reconcile figures on a monthly basis," sources maintained.

Both the SBP and PBS reconcile exports and import figures in June each year but even then the entire remitted amount is not reflected in the final figures.

There is also a wide gap in trade figures of China and Pakistan. This issue was raised by Pakistan with Chinese authorities during FTA-II talks. The FBR and Chinese government have also signed Electronic Data Exchange mechanism to sort this discrepancy however the outcome of this agreement has yet to be shared with stakeholders.

Source: fp.brecorder.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 21-09-2018
Notification No 10/2018 - Union Territory Tax
Notifications regarding E-way bill in Union Territories (without legislature)

Date: 21-09-2018
Notification No 11/2018 - Union Territory Tax
Notifications regarding E-way bill in Union Territories (without legislature)

Date: 20-09-2018
Notification No.81/2018 - Customs (N.T.)
Amendment to Customs Exemption Notifications No. 24/2015-Customs dated 08.04.2015 to align it with amendment in Foreign Trade Policy.

Date: 20-09-2018
Notification No. 52/2018 – Central Tax
Seeks to notify the rate of tax collection at source (TCS) to be collected by every electronic commerce operator for intra-State taxable supplies

Date: 20-09-2018
Notification No. 23/2018- Central Tax (Rate)
Seeks to insert explanation in an entry in notification No. 12/2017 – Central Tax (Rate) by exercising powers conferred under section 11(3) of CGST Act, 2017.

Date: 20-09-2018
Notification No. 02/2018 – Integrated Tax
Seeks to notify the rate of tax collection at source (TCS) to be collected by every electronic commerce operator for inter-State taxable supplies

Date: 20-09-2018
Notification No. 24/2018-Integrated Tax (Rate)
Seeks to insert explanation in an entry in notification No. 9/2017 – Integrated Tax (Rate) by exercising powers conferred under section 6(3) of IGST Act, 2017.

Date: 20-09-2018
Notification No. 23/2018-Union Territory Tax (Rate)
Seeks to insert explanation in an entry in notification No. 12/2017 – Union Territory Tax (Rate) by exercising powers conferred under section 8(3) of UTGST Act, 2017.

Date: 20-09-2018
Trade Notice No. 33 /2018
Activation of E com Module for SEIS based on ANF 3B

Date: 19-09-2018
Notification No.80/2018 - Customs (N.T.)
Exchange Rates Notification No.80/2018-Custom(NT) dated 19.9.2018.



Exim Guru Copyright © 1999-2018 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001