Pakistan offers permanent residence to rich foreigners
Pakistan's new trick to overcome poverty.
Pakistan has decided to offer a permanent residency scheme for wealthy foreign nationals, including Sikhs, Afghans, Chinese living in Canada and the US, to attract investment and spur the economy and national development. This information came to light on Saturday. Information Minister Fawad Chaudhary gave information about the plan by tweeting at night. He said that this plan is in line with the new national security policy, which was released by Prime Minister Imran Khan on Friday.
He tweeted, "This plan is in line with the new National Security Policy, in which Pakistan has placed geoeconomics at the center of its national security principle. The government has decided to allow a permanent residence scheme for foreign nationals. The new policy will allow foreigners to be granted permanent resident status in lieu of investment.
Sharing the background of the plan, the federal minister said that one of the aims of the permanent residency scheme is to attract wealthy Afghans, who have been in power since Kabul's power was handed over to the Taliban in August last year.
"They need to be encouraged," Chowdhury said, adding that the plan aims to attract Sikhs living in the US and Canada, who are willing to invest in religious places, especially the Kartarpur Corridor, but there is no option to do so right now.
He said that the third goal is to encourage Chinese citizens who are willing to set up industries in Pakistan. "This is a historic step. For the first time in the history of Pakistan, foreigners are being allowed to invest in the real estate sector," Chowdhury said.