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New proposals would raise the capital requirements for the largest and most important banks by 9%, down from 19%
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Pakistan government to launch $100m fund
ISLAMABAD — The government has decided to launch a $100 million new Overseas Investment Fund to attract overseas Pakistanis to invest in the country.
Official sources said that State Bank of Pakistan and the Board of Investment (BoI) have been asked to identify major areas of investment for expatriates with the help of the private sector.
Details of 7.4 million overseas Pakistanis had been collected who would be asked individually and collectively to make investment in Pakistan where the government was considering to offer further fiscal and non fiscal incentives in some areas including power, infrastructure, tourism, communication and information technology. When contacted a senior official confirmed that new overseas investment fund was being established with the help of a number of organisations including National Investment Trust(NIT). Initially, he said the government would extend $100 million for the fund which was expected to be substantially enhanced with the active participation of wealthy expatriates.
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