ISLAMABAD – Pakistan has decided to offer permanent residency to foreign investors in order to attract heavy investments amid prevailing financial problems in the country.
In a tweet late on Friday night, Information Minister Fawad Chaudhry said: “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 move, government believes, will help Pakistan fetch foreign investment of billions of dollars by giving Pakistani nationality and proprietary rights to the foreign investors.
Reports said that the government aimed at attracting the wealthy Afghan nationals who were making heavy investments in in countries such as Iran, Turkey and Malaysia.
Also, Prime Minister Imran Khan in his recent statements hinted that he wanted to attract top Chinese investors who established industries in other regional countries.