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Financially doomed Pakistan to grant permanent residence to wealthy international investors including Chinese and US-based Sikh nationals

In recent utterances, Prime Minister Imran Khan intimated that he intended to entice prominent Chinese businessmen to come and settle in Pakistan who had shifted their businesses to other countries in the region.

According to Dawn, Pakistan’s government has planned to provide permanent resident status to foreign investors in order to attract large investments from affluent Afghans, Chinese, and American Sikhs.

Dawn reported that the government aims to attract large investments from affluent Afghans who are already investing in Iran, Turkey, and Malaysia. The Pakistani government also expects that owing to their fondness for Sikh sacred places in the country, US-based Sikh nationals will be willing to invest in various areas in Pakistan.

“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,” Fawad Chaudhry, the Minister of Information in Pakistani Government stated in a tweet late Friday night.

In recent utterances, Prime Minister Imran Khan intimated that he intended to entice prominent Chinese businessmen to come and settle in Pakistan who had shifted their businesses to other countries in the region.

Pakistan’s economy, in particular, is in dire straits. The country is experiencing unprecedented inflation, which is driving up the cost of everyday items. For a long time, the Financial Action Task Force (FATF) has kept Pakistan on its grey list, pressing it to do more to investigate and prosecute senior leaders and commanders of UN-designated terror organizations who are implicated in terror funding.

In Pakistan, discrimination against minorities is on the rise. Its residents are fleeing to other parts of the globe in search of a better life. According to a report in the Times of India, Pakistani citizens make up more than 70% of citizenship applications in India.

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OpIndia Staff
OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

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