Federal Cabinet Approves New Visa Policy and Business Reforms to Boost Investment and Tourism
Tanveer Ahmed:
Islamabad: In a significant move to boost investment and tourism, the federal cabinet, led by Prime Minister Shehbaz Sharif, approved several key initiatives during a meeting on Wednesday. The cabinet’s decisions include establishing special courts under the SECP Act 1997, signing a Memorandum of Understanding (MoU) between Pakistan and Denmark, and expanding the membership of the Privatization Commission Board.
Streamlining Business Processes
Prime Minister Shehbaz Sharif emphasized the government’s commitment to simplifying business processes and enhancing the ease of doing business in Pakistan. He highlighted these efforts during the cabinet meeting, stressing that the government is focused on creating a more business-friendly environment.
Adopting a Flexible Visa Policy
The Prime Minister also referred to a recent inter-ministerial meeting where a consensus was reached on adopting a more flexible visa policy to attract investment, tourism, and religious tourism. This new visa regime, which will be submitted to the cabinet for final approval, aims to make it easier for foreigners to visit and do business in Pakistan.
Key Features of the New Visa Regime
One of the most notable changes in the new visa policy is the introduction of free visas for businesspeople and tourists from 126 countries. Prime Minister Shehbaz expressed confidence that this policy will significantly enhance Pakistan’s appeal to international visitors and investors. Additionally, the new system will enable visas to be issued within 24 hours through an electronic travel authorization form, further streamlining the process.
Conclusion
The federal cabinet’s recent decisions reflect a proactive approach to fostering economic growth and improving Pakistan’s global standing. By simplifying business processes and adopting a more flexible visa policy, the government aims to attract more tourists and investors, thereby boosting the country’s economy and enhancing its international reputation.
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