The Government has decided to start an investment-based citizenship program in foreign countries to attract foreign investment. Earlier, the Central Agency had announced to grant citizenship to investors from Afghanistan only. However, later the Government announced to grant permanent residency to all the foreign nationals interested in investing in Pakistan. This program aims to boost foreign direct investment in the country. Foreign nationals with an investment of about $1 million (minimum) in Pakistan will be eligible to acquire citizenship. These investment-based citizenship programs are structured to incentivise businesses at a global level that run legally and transparently according to local laws.
The present government is making efforts to boost the country’s economic growth. According to the World Investment Report, Foreign Direct Investment (FDI) fosters the economy by generating employment opportunities, enhancing productivity, bringing skills and technologies, and continuous long-term development. FDI has a positive impact on the country’s economy in both the long term and the short-term and contributes about 0.6% to the GDP. These citizenship programs will boost industrialisation and mobilise foreign resources in Pakistan. However, uncertain economic growth, rising debt payments, a balance of payment crisis, and an improper taxation system has increased the country’s current account and fiscal deficit. This initiative will diversify and expand foreign investment in Pakistan and surge investors’ interest in the country.
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