Pakistan’s government has approved a broad economic policy aimed at attracting foreign funds, as the country, which is severely short of foreign currency, seeks new avenues of financing.
The Pakistan Cabinet approved the “Pakistan Investment Policy” for 2023, which aims to attract between $20 billion and $25 billion in investment.
This policy was reached after consultations with the World Bank, IFC and federal and regional institutions.
The new policy eliminates the minimum equity ratio for foreign investments, allowing foreigners to invest in all but six sectors not disclosed by German sources.
In accordance with the new policy, any foreign investor can transfer all his profits abroad in his country’s national currency, the sources said: “Special protection will be provided to foreign investors.”
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