Foreign currency requirement for taming inflation
In the year 2016 an operational limit to the debt-ceiling was introduced whereby the annual federal deficit (excluding grants) was not to exceed 4% of GDP over the period FY2018-21…
Private foreign currency account and Section 111(4) of the Income Tax Ordinance, 2001: The revolving circle
This is a continuation of the articles written earlier in this paper on the matter of perpetual amnesty available in the form of 'No Question Asked Concept' for foreign exchange…
The private foreign currency accounts & Section 111(4) of the Income Tax Ordinance, 2001: Breaking the revolving circle
In an article published in this esteemed paper early this year under the title "Private Foreign Currency Account and Section 111(4) of the Income Tax Ordinance-The Revolving Circle", the author…
Foreign currency accounts: Post-2018 scenario
Pakistan's economy and its taxation system cannot be properly analysed unless there is proper understanding of Pakistan's foreign exchange regime. In Pakistan, unlike almost all the countries, fiscal policy concessions…
Borrowing in foreign currency: Why doesn’t it pay off?
Federal Finance Minister Ishaq Dar has publicly stated time and again that he has been extremely savvy in borrowing at a cheaper rate of interest from external sources at an…
Foreign currency deposits and international liquidity shortages-I
This paper focuses on several shortcomings in the way in which the capital account of the balance of payments in Pakistan was liberalised with the introduction of foreign currency deposits…
Foreign currency deposits and international liquidity shortages-II
Some of the biggest beneficiaries of the FCD scheme and the foreign exchange deregulations were residents who could now deposit in the domestic banking system their savings and have a…
Foreign currency deposits and international liquidity shortages-III
Since the private sector on its own carries too little international liquidity, the central bank should attempt to attenuate this problem by carrying additional international liquidity in the place of…
Foreign currency deposits and international liquidity shortages-IV
Borensztein and Mauro (2002) discuss how countries can self-insure against economic growth slowdowns by issuing GDP-indexed bonds. They simulate the effects of GDP-indexed bonds under different assumptions about fiscal policy…
Foreign currency deposits and international liquidity shortages-IV
Borensztein and Mauro (2002) discuss how countries can self-insure against economic growth slowdowns by issuing GDP-indexed bonds. They simulate the effects of GDP-indexed bonds under different assumptions about fiscal policy…
