Good news for foreign investors in Pakistan amid economic crisis. The caretaker government in Pakistan has changed the visa rules in an effort to make it easier for foreign investors to invest while the nation is in crisis.
Good news for foreign investors in Pakistan
The Kakar-led interim government approved changes to the visa regulations in order to attract investors and companies from all over the world. As a result, foreign investors can now obtain a six-month business visa in as little as one day.
The Special Investment Facilitation Council (SIFC) recommended the changes because the South Asian country significantly simplifies the visa application process for foreign investors and commercial purposes.
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In accordance with the revised visa regulations, Pakistani missions are now required to grant business visas valid for five years in less than 24 hours for more than 100 nations.
Additionally, a one-year short-term investor visa will be issued the same day, and five-year investor visas can be obtained from the Ministry of Interior in two weeks.
After devastating floods and the overthrow of the PTI government, which made the problems worse, the government made the changes as the economy of the nation was facing significant headwinds.
Over 240 million people’s industrial growth shrank as a result of monetary and fiscal tightening, the sharp depreciation of the rupee, and higher domestic oil and electricity prices.
