Liberalizing foreign exchange regime
One important factor in facilitating foreign capital (investment) inflow into the country is to allow it to move out easily. Lesser the friction, better is the investor confidence. The capital…
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…
Shifting foreign policy
Pakistan has long been exploring ways to spotlight its geostrategic significance for the US and other Western powers for cooperation in areas beyond Afghanistan. For about at least two decades,…
Foreign policy and economic challenges
Foreign relations and the state of the economy have become inextricably linked in Pakistan due to the PML-N administration's overarching objective to borrow from external sources to meet its budgetary…
Reforming foreign exchange regime – I
It would be difficult to find another law that could rival the pervasive effect on the economy of Pakistan as did the Protection of Economic Reforms Act 1992. It was…
Exchange rate adjustment: a welcome step
For the past many months, we have been voicing our concerns that a rational exchange rate policy is missing that would address increasingly untenable state of external account. Mercifully, in…
Falling reserves
Foreign exchange reserves with the State Bank of Pakistan have started falling, in the, more or less, immediate aftermath of the end of the IMF Program. The process of decline…
The ‘record’ reserves
In the midst of the terrible death toll due to the heatwave in Karachi, a piece of ‘breaking news’ flashed in front of my eyes. It said that the finance…
Is exchange rate hurting exports?
The trade deficit elephant is in the room. The room is getting a tad tight, with the burly presence of the energy elephant, plus several baby elephants. More and more…
Exchange rate adjustment: a welcome step
For the past many months, we have been voicing our concerns that a rational exchange rate policy is missing that would address increasingly untenable state of external account. Mercifully, in…
