The Pakistan government has decided to offer permanent residency to foreign investors, especially to fetch heavy investments from wealthy Afghans, Chinese and American Sikhs, Dawn reported.
In a tweet late Friday night, Information Minister Fawad Chaudhry said: "In line with new National Security Policy, through which Pakistan declared geo-economics as core of its national security doctrine, the government has decided to allow permanent residency scheme for foreign nationals, new policy allows foreigners to get permanent resident status in lieu of investment."
The government believes it will fetch billions of dollars of foreign investment by giving Pakistani nationality and proprietary rights to the foreign investors, the Dawn news report said.
An informed source told Dawn that the government wanted to attract heavy investments from the wealthy Afghan nationals who were presently investing in countries such as Iran, Turkey and Malaysia.
They said the government also hoped that US-based Sikh nationals would be happy to make investment in different sectors in Pakistan due to their affection with Sikh religious sites in the country, the report added.
Also, Prime Minister Imran Khan in his recent statements hinted that he wanted to attract top Chinese investors who relocated their industries to other countries in the region.
The government also hoped that the rich Arabs rulers, who used to visit Pakistan every year for hunting purpose, would like to have Pakistani citizenship.
--IANS
san/ksk/
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU