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Foreign investors to get Pakistan’s six-month business visa within 24 hours

12:53 PM | 19 Sep, 2023
Foreign investors to get Pakistan’s six-month business visa within 24 hours
Source: File Photo

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.

Daily Pakistan Global Web Desk

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PKR exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 21 Feb 2024

Pakistani currency remains stable against US dollar and other currencies in the open market on February 21, 2024 (Wednesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.6 for buying and 282.4 for selling.

Euro comes down to 300 for buying and 303 for selling while British Pound rate stands at 350.5 for buying, and 354 for selling.

UAE Dirham AED hovers at 76.15 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 21 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.6 282.4
Euro EUR 300 303
UK Pound Sterling GBP 350.5 354
U.A.E Dirham AED 76.15 76.9
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.32 751.32
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 902.41 911.41
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.96 733.96
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 316.9 319.4
Thai Bhat THB 7.93 8.08

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