Pakistan hopes to attract $5bn investment by expats: Daily Times

* Law to protect investments by overseas Pakistanis soon

Daily Times Monitor

LAHORE: A new law protecting investments by overseas Pakistanis may attract as much as $5 billion, Federal Minister Farooq Sattar said on Wednesday.

The minister said in an interview, “If the international corporate sector can get sovereign guarantees, then why not overseas Pakistanis. Once we introduce legislation – within the next four months – it will give them confidence.”

The minister said the investment was needed to revive the economy that had slumped last year after seven years of high growth. Last year, overseas investment dropped by a steep 38 percent.

Waqar Ahmed Khan, the minister for investments, had said in an interview last month, the government planned to raise $10 billion in foreign direct investment by December.

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