ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif announced on Wednesday that Pakistan has implemented positive changes to its visa policy aimed at improving the ease of doing business, attracting foreign investment, and expanding trade opportunities.
This initiative comes as Pakistan continues efforts to strengthen its economy amidst a prolonged economic crisis that necessitated seeking financial assistance from global lenders and friendly nations, including a recent $7 billion bailout agreement with the IMF.
Addressing the cabinet meeting, Prime Minister Shehbaz Sharif highlighted discussions held two weeks ago regarding the visa policy, which resulted in a significant revision. “We have expanded visa fee exemptions to 126 countries,” he stated. “Tourists, businessmen, and other travelers from these countries will now be exempt from visa fees.”
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Despite acknowledging a potential revenue loss, Shehbaz Sharif emphasized the policy change’s potential to stimulate investment in Pakistan. “This move is aimed at enhancing ease of doing business,” he affirmed, stressing the government’s commitment to fostering economic growth.
Moreover, the premier announced expedited visa processing, ensuring visas are issued within 24 hours to visitors. He expressed confidence that these measures would attract more visitors and contribute to increased economic activity and foreign exchange reserves.
While addressing ongoing security challenges, the Prime Minister reassured that the coalition government is actively working to address these issues.
