To aid ailing economy, Pakistan offers permanent residency to rich foreign nationals

WION Web Team
Islamabad Published: Jan 15, 2022, 04:45 PM(IST)

Pakistan has decided to offer a permanent residency scheme for wealthy foreign nationals, said Information Minister Fawad Chaudhry (file photo). Photograph:( ANI )

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To attract investment and aid it’s ailing economy, Pakistan has decided to offer a permanent residency scheme for wealthy foreign nationals. These may include Sikhs, Afghans and Chinese. Although it may be an attempt to boost national growth, only time will tell how many people actually opt for it considering the numerous issues the country has been facing

To attract investment and aid it’s ailing economy, Pakistan on Saturday has decided to offer a permanent residency scheme for wealthy foreign nationals. These may include Sikhs, Afghans and Chinese.  

Although it may be an attempt to boost national growth, only time will tell how many people actually opt for it considering the numerous issues the country has been facing.

Also Read: PM Imran Khan launches Pakistan's first-ever national security policy

With the help of an overnight tweet, Information Minister Fawad Chaudhry said that the new scheme was in line with the new National Security Policy, which was formally launched by Prime Minister Imran Khan on Friday.  

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"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 permanent residency scheme for foreign nationals, the new policy allows foreigners to get permanent resident status in lieu of investment," the tweet said.  

Also Read: Watch | Didn’t expect ‘player’ Imran Khan to tax condoms: Bilawal Bhutto

This scheme looks to target the Sikhs, who are living in Canada and USA and want to invest in religious sites, like Kartarpur Corridor. It also aims to attract rich Afghans, who are relocating to Malaysia, Turkey and other countries, after the takeover of Taliban.  

It will also target Chinese nationals, who wish to establish industrial units in Pakistan.   

"It's a historic step, for the first time in the history of Pakistan, foreigners are being allowed to invest in the real estate sector," he said.   

(With inputs from agencies)  

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