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Sindh Cabinet to discuss granting Long Term Residency to Foreign Investors

Fed Govt. has floated a draft policy to introduce schemes for grant of Long-Term / Permanent Residency to Foreign Investors.

Sindh Govt. has communicated its preliminary objections to the federal government however the issue will be taken up in provincial cabinet meeting on Jan. 18 to discuss in detail.  

Karachi

Sindh Cabinet will discuss the draft policy of granting Long Term/permanent Residency to Foreign Investors, as proposed by federal government, in its meeting scheduled on January 18, 2022.

Board of Investment, Prime Minister’s Office has floated a draft policy to introduce schemes for grant of Long-Term / Permanent Residency to Foreign Investors. The policy includes proposed parameters for foreign investors to be eligible for Long Term / Permanent Residency.

After receiving the proposed policy paper, Government of Sindh communicated its preliminary objections to the federal government, however, given the importance of the matter, the administration has proposed to place it for deliberation of Government of Sindh i.e. Provincial Cabinet, an official handout said on Thursday.

Government of Sindh will share its formal input as decided by the Cabinet. Any news on social media regarding grant of citizenship rights to illegal migrants is baseless and fake, it said.

“The Sindh Cabinet will consider the policy proposal and decide upon the appropriate course of action in light of the Foreigners Act, 1946 and Articles 23, 24, 172 and 173 of the Constitution of the Islamic Republic of Pakistan,” handout said.

It further stated that the Government of Sindh is of the view that subject policy was proposed by the federal government with good intentions and its objective is to attract foreign exchange in the country. “However, no decision regarding the policy has been made by the Government of Sindh and it will be taken up by Sindh Cabinet during its meeting on 18th January 2022,” handout concluded. (PR)

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