Introduction:
Government has announced to provide foreign investors with Pakistani nationality. This offer being popular worldwide, was introduced in order to fetch great investments from the wealthy, including the Afghans and the Chinese.
Pakistan’s Information Minister used the Twitter platform to address the important new policy.
“In line with new Nat Security policy through which Pak declared GeoEconomics as core of its Nat security doctrine,Government has decided to allow Permanent residency scheme for foreign nationals,new policy allows foreigners to get permanent resident status in lieu of investment”, tweeted Ch. Fawad Hussain.
Reasoning & Impact:
This decision taken by the Government appears to be geared at alleviating the country’s financial troubles. Heavy inflow of foreign investments would help improve country’s trade deficit. According to reliable sources, the idea of granting residency/citizenship to foreign investors was shared in a recent meeting chaired by Prime Minister Imran Khan, with special focus on Afghan nationals living in Pakistan. Our country hosts over 1.4 million Afghan refugees registered with United Nations High Commissioner for Refugees (UNHCR), but many others are not registered. It is estimated that some 2 million Afghans have been living in Pakistan.
However, the policy is not only restricted to Afghans, it is directed towards other countries, as claimed by a Board of Investment (BOI) official, also adding that the proposal is still at a very early stage and requires deliberation from concerned stakeholders. Although it is certain to attract great deal of investments.
