ISLAMABAD: Rejecting the idea of giving Pakistani citizenship to investors from Afghanistan alone, Prime Minister Imran Khan has said that such a policy should not be confined to a single country.
According to official circles, the idea of granting permanent residency or citizenship to foreign nationals wishing to invest in Pakistan was shared during the recent meeting of the Afghanistan Inter-Ministerial Coordination Cell (AICC), chaired by the Prime Minister.
The meeting was particularly focused on Afghan nationals living in Pakistan or those wishing to leave the country after the rise of the Taliban.
The AICC is headed by the Prime Minister and includes the Ministers of Interior, Foreign Affairs and Finance, National Security Advisors, high-ranking officials of the Armed Forces and other relevant departments as well as the Chairman of the Investment Board.
Many countries are offering investment-based citizenship programs
sources told dawn That Muhammad Azfar Ahsan, Minister of State and Chairman of the Board of Investment (BoI) floated the idea of granting citizenship to Afghan investors to attract investments from Afghanistan. He suggested that Pakistan can get significant investment by inviting Afghan millionaires and other investors belonging to Chinese regions like Hong Kong, Macau etc.
During the meeting, the PM is said to have welcomed the idea, noting that several countries in the region, including Saudi Arabia and Turkey, have introduced such policies to woo foreign investors.
However, the participants of the meeting said that such a policy should not be specific to any nation or country, as it could lead to their diplomatic displeasure.
“If there is a policy related to Afghan investors, the Taliban-led government will object to it,” a Interior Ministry official said. dawn, adding “This should be an open policy.”
Sources said the PM has directed the BoI to work out a policy that covers all aspects with proper mechanism for practical implementation of the proposal.
BoI President Azfar Ahsan told dawn“We are looking at this kind of policy from all sides and it is essential to tap all options where investment opportunities are available… but everything has to be within national and international legal framework.”
He clarified that by ‘we’ he meant all relevant government departments and sectors, including the interior ministry, the law department and even the security establishment.
“This policy should not be limited to Afghan citizens only, but should be a broad-based, structured set-up to facilitate investors with legal status and belonging to any part of the world,” the BoI chairman said.
On the other hand, an interior ministry official said there was concern from some quarters as Pakistan had to be cautious as it “cannot behave like Saudi Arabia or Turkey” and needed some serious response.
Traditionally, countries such as Austria, Antigua and Barbuda, Dominica, Grenada, Malta, Montenegro, St. Kitts and Nevis, St. Lucia, etc. have been offering investment-based citizenship programs.
While the BoI has been tasked with working on the policy document, sources said it was initially proposed that any foreign national with a minimum investment of $1m in Pakistan would be eligible for citizenship and details of all such investors The first will be shared with the provinces. Approval of each case.
Published in Dawn, January 2, 2022