GUJRAT: Overseas Pakistanis are making a major contribution to Pakistan’s economy through remittances and investment, Dr. Pervez Iqbal Lohsar said at a conference on foreign direct investment held in Gujrat on July 25.
The chairman of the EU-Pak Friendship Federation Europe said overseas Pakistanis continue to support the country by sending their earnings home and investing in local businesses and development projects. He said their financial contribution helps strengthen foreign exchange reserves, economic activity and investor confidence.
Speaking at the “Conference on Foreign Direct Investment in Pakistan,” Dr. Lohsar called on the federal government to establish an effective one-window operation for overseas investors.
He said Pakistanis living abroad often face delays because they must approach several ministries, departments and regulatory bodies to obtain no-objection certificates and complete legal and administrative requirements.
According to Dr. Lohsar, a centralized investment platform could reduce procedural delays, improve coordination among government departments and make it easier for overseas Pakistanis to invest in the country.
Call for Easier Investment Procedures
Dr. Lohsar said a one-window system should allow investors to complete approvals, documentation and other official requirements through a single platform.
He added that lengthy procedures can discourage potential investors, while a more transparent and efficient process could help attract additional foreign direct investment to Pakistan.
Dr. Lohsar also highlighted the role of remittances in supporting the national economy. He said overseas Pakistanis sent about $38 billion to the country last year, while the amount had risen to approximately $42 billion this year.
The figures were cited by Dr. Lohsar during his address. He described the increase as a sign of overseas Pakistanis’ continued confidence in and connection with their homeland.
Gujrat’s Overseas Community Highlighted
Dr. Lohsar said Gujrat is among the Pakistani districts with a particularly large overseas population.
He noted that expatriates from the district contribute foreign exchange through remittances and also support commercial activity by investing in businesses, property and other sectors.
The conference was attended by overseas Pakistanis from more than 50 countries, including Khalid Asghar Gharral.
Major General Dilawar Khan, Director General Welfare and Rehabilitation, attended the event as chief guest.
Officials and members of the Gujrat Chamber of Commerce and Industry, representatives of the Gujrat Press Club, business leaders and members of civil society also participated in the conference.
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