Caretaker Prime Minister Hazar Khan Khoso on Wednesday approved first ever national policy for overseas Pakistanis to encourage investment, facilitate foreign investment through legal channels, facilitate their welfare and provide protection to their assets.
The decision was taken during a meeting with Minister for Overseas Pakistanis Feroze Kakakhel at the PM’s House.
The approval was granted in the wake of the approval by the cabinet in its May 9 meeting.
Talking about the salient features of the policy, Kakakhel said that it has been made through a consultative process with all stakeholders, including ministries concerned, the Board of Investment, the Federal Board of Revenue, the Overseas Employment Foundation.
The national policy provides for social and welfare facilities to the overseas Pakistanis, including proposals for housing schemes across the country, allocation of a specific sector or percentage in government residential schemes, opening of schools in different cities abroad on need basis, establishment of overseas university in Islamabad, construction of hospitals, provision of mobile medical units and legal assistance for families of overseas Pakistanis.
The policy also provides for a self-contributory pension scheme. This scheme has already been launched and would be made more attractive by enhancing facilities under it.
The national policy for overseas Pakistanis envisages increase in the existing grant of financial assistance to the destitute families in the event of sudden death or disability. The increase in grant would also be reviewed periodically. The Ministry of Overseas Pakistanis would also facilitate free transportation of bodies of overseas Pakistanis where PIA service is not available, including transportation from airport to the deceased’s native town/village.
The policy encourages liaison with foreign governments in matters of recruitment to resolve difficulties and disputes between employers and workers, simplification of procedure to acquire computerised national identity cards, passports and foreign remittance card.
The government would appoint special focal persons in regional polices offices and in the district/city government offices to look into and resolve the issues of overseas Pakistanis. The government will also support activities undertaken by members of Pakistani diaspora to promote Pakistani art, culture, music, literature and crafts as well as festivals in host countries.
The national policy for overseas Pakistanis also provides for establishment of a database of overseas Pakistanis for updated information, analysis, policy intervention and welfare initiatives.
Under the policy, an Overseas Pakistanis Advisory Council (OPAC) would be established for welfare and participation in the national development.
The policy stipulates consideration of looking into the means to facilitate the overseas Pakistanis’ right of vote.
The policy provides to expand duty credit to other household items to encourage remittances through banking channels. The State Bank of Pakistan will initiate schemes with attractive profit rates for foreign currency deposits and would draw a mechanism to eliminate difference between market and official rate of exchange for increasing inflow of remittance.
The SBP would also introduce national award for leading remitters. Special investment fund trust and schemes would be established to offer loans to overseas Pakistanis at attractive interest rates.
The policy also provides for establishment of overseas Pakistanis facilitation centre (OPFC) to cover broad areas, including investment facilitation, knowledge networking and ensuring business partnership.
