DH Latest NewsDH NEWSDelhiUKTravel & TourismLatest NewsTravelmaniaNEWSInternationalvisa and regulationsSpecial

Aiming to boost its economy, Pakistan offers permanent residence to wealthy foreigners

The Pakistani government announced a permanent residency program for wealthy foreign nationals on Saturday in an effort to attract investment and boost the economy. Among the prospective residents are probably Sikhs, Afghans and Chinese. Even though it may be an attempt to boost national growth, only time will tell how many people eventually opt for it given the numerous issues the country has been facing.

In an overnight tweet, Information Minister Fawad Chaudhry described the new scheme as being in line with the new National Security Policy announced by Prime Minister Imran Khan on Friday. ‘In line with new National Security Policy, through which Pakistan declared geo-economics as the core of its national security doctrine, the government has decided to allow a permanent residency scheme for foreign nationals. The new policy allows foreigners to get permanent resident status in lieu of investment,’ the tweet said.

The scheme aims to target Sikhs who live in Canada and the USA and want to invest in religious sites, like the Kartarpur Corridor. It also hopes to attract wealthy Afghans, who have fled to Malaysia, Turkey, and other countries after the Taliban took control. Chinese nationals intending to establish industrial units in Pakistan will also benefit from this. This is a historic step, as foreigners will now be able to invest in the real estate sector for the first time in Pakistan’s history.



Post Your Comments

Back to top button