Puck plans to boost the economy and provides permanent residence to wealthy foreigners

Pakistan has decided to provide permanent residence to wealthy foreigners, including seekers, Afghanistan and Chinese living in the United States and Canada, attracting investment and boosting its sluggish economy and nation’s growth. ..

In an overnight tweet, Fawad Chaudhry announced that the new plan is in line with the new national security policy officially launched by Prime Minister Imran Khan on Friday.

“In line with the new national security policy, which Pakistan has declared geoeconomics as the core of the national security doctrine, the government has decided to allow foreigners to live permanently. The new policy will be replaced by foreigners. We will allow you to obtain permanent residence for your investment, “tweet said.

The Express Tribune said that one of the purposes of launching a public relations scheme, while sharing the background of the scheme, is to attract wealthy Afghans who had emigrated to Turkey, Malaysia, and several other countries. I reported that I said it. Kabul last August.

“They needed to give incentives,” said Chaudhry.

In addition, the minister said the plan was aimed at Sikhs living in Canada and the United States. They were willing to invest in religious places, especially the Karutapur Corridor, but they had no option to do so.

He said the third purpose of the plan was to provide incentives to Chinese citizens who wish to relocate or establish an industrial unit in Pakistan.

“This is a historic step … for the first time in Pakistan’s history, foreigners have been allowed to invest in the real estate sector,” he said.

The Cabinet on Tuesday instructed the Treasury and the Home Office to sit with the Investment Commission to discuss plans that could make it easier for foreigners to buy real estate in Pakistan.

In just three days, the government has taken the initiative in the plan in an attempt to bring in billions of dollars of foreign exchange.

Citing the example of Turkey, where foreigners have recently been able to buy real estate domestically, the Minister of Information has called the project a “game changer,” and if the scheme is realized, foreigners will buy homes and hotels. Approved, saying that it will be possible to invest in real estate.

Taking the example of Sikh pilgrims, the Minister of Information said that both projects could be guaranteed full legal protection and that they would be able to purchase property in the karuta pool. rice field.

Sources may launch two more such projects in Lahore and Karachi, referring to the federal cabinet’s decision at the previous meeting to launch housing projects in the capital for Pakistanis abroad. Said it was decided.

At a post-Cabinet press conference, the Minister of Information shared that a 400-canal (50-acre) land-based housing project has begun for Pakistanis abroad.

The minister said that all foreign Pakistanis with Roshan digital accounts could invest in housing projects, hoping that the government would get about US $ 2 billion from the capital project, sharing the purpose of the scheme. I did.According to media reports

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Puck plans to boost the economy and provides permanent residence to wealthy foreigners

Source link Puck plans to boost the economy and provides permanent residence to wealthy foreigners

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