Replace the FERA 1947 Act and Amendments with a unified, modern FX law
Reform ID		F537
Description		Pakistan's FX regulatory framework was built on the Foreign Exchange Regulation Act (FERA) 1947 a law designed in the context of post-independence capital flight prevention. After nearly 80 years of amendments, circular letters, and subsidiary regulations, the legal framework had become extraordinarily complex, internally inconsistent, and fundamentally misaligned with Pakistan's current economic needs. The overarching legal principle that all FX transactions are prohibited unless specifically permitted created a maximal regulatory burden and deterred legitimate business activity.
Department		State Bank of Pakistan - SBP
Jurisdiction / Location		Federal - Entire Pakistan
Sector		All Sectors
Start Date
Target Deadline		15-04-2026
Date Enacted
Implementation Status		In Progress
Progress		0%
CCORR Direction
Cost Savings PKR (Mil.)
Evidence