ISLAMABAD – Pakistan’s caretaker government has made amendments to the visa policy, in another bid to facilitate foreign investors as the country is reeling from crisis.
To woo investors and businesses from across the globe, the Kakar-led interim government okayed tweaks to the visa policy, and now foreign investors will receive a six-month business visa within a day.
The changes were made on the recommendation of the Special Investment Facilitation Council (SIFC) as the South Asian nation provides substantial ease in the visa application process for foreign investors and commercial purposes.
Under the new visa policy, the government made amendments to the visa policy for over 100 countries, and Pakistani missions will now be obligated to issue business visas for 5 years within 24 hours.
Furthermore, a short-term investor visa of one year will also be issued within a day time, while the Ministry of Interior can issue five-year investor visas within two weeks time.
The government made the changes as the country’s economy faced strong headwinds after catastrophic floods and the ouster of the PTI government that exacerbated the challenges.
The industrial growth of over 240 million people narrowed, which reflects fiscal and monetary tightening, massive depreciation of the rupee, and higher domestic oil and electricity rates.
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