IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

Yes

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 03 Aug 2015 | Removal date: open ended
Still in force

Controls on commercial transactions and investment instruments

 On 27 July 2015, the State Bank of Pakistan through EPD Circular Letter No. 2015 permitted import of physical US dollar billls by Exchange Companies against export of permissible foreign currencies. Such import had been disallowed since 2005. The measure, originally valid from 3 August 2015 to 15 October 2015, has been extended until 15 January 2016.
By subsequent Circulars the validity of the measure has been extended until 15 April 2016 (Circular Letter No. 01 of 2016), until 30 June 2017 (Circular Letter No. 07 of 2016) and thereafter until 31 December 2017 (Circular Letter No. 14 of 2017).

On 1 January 2018, the import of US Dollars was extended indefinitely. However, the total import of US Dollars has been restricted to 35% of the export of permissible foreign currencies in a month. Limits on imports or repatriation of equivalent US Dollars was later withdrawn on 9 January 2018.

AFFECTED COUNTRIES

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