Pakistan’s caretaker government has amended the visa policy in another attempt to facilitate foreign investment as the country is dealing with a crisis.
To entice investors and enterprises from across the world, the Kakar-led temporary government approved changes to the visa regulations, and now overseas investors can get a six-month business visa in as little as a day.
The adjustments were made in response to the Special Investment Facilitation Council’s (SIFC) proposal since the South Asian country provides significant convenience in the visa application process for international investors for commercial objectives.
The government amended the visa rules for more than 100 countries under the new policy, and Pakistani missions will now be required to give business visas for 5 years within 24 hours.
Furthermore, a one-year short-term investment visa will be provided within a day, while the Ministry of Interior can issue five-year investor visas within two weeks.
The reforms were implemented when the country’s economy faced tremendous challenges following disastrous floods and political instability.
Over 240 million people’s industrial growth has slowed as a result of fiscal and monetary tightening, a significant depreciation of the rupee, and increasing domestic oil and energy prices.