PM Khan's visa policy to open new doors for investors, tourists

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Prime Minister Imran Khan addressing at the launching ceremony of Pakistan online visa system at PM office Islamabad on March 14, 2019. (PID)
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Prime Minister Imran Khan addressing at the launching ceremony of Pakistan online visa system at PM office Islamabad on March 14, 2019. (PID)
Updated 15 March 2019
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PM Khan's visa policy to open new doors for investors, tourists

  • In the first phase, citizens of five countries can apply online for a permit
  • Pakistan to also introduce an on-arrival facility for 50 nations at a later stage

ISLAMABAD: Prime Minister Imran Khan on Thursday announced a new visa policy to promote tourism in the country and generate additional revenue to support Pakistan’s ailing economy.

Addressing a ceremony in Islamabad, he welcomed the world to visit Pakistan and described the launch of the country’s visa portal as a “big step” which signified that Pakistan was safe and its security landscape had improved.

Quoting a traditional Chinese proverb on the occasion, he said “to embark on a thousand-mile journey, one has to take the first step.”

The premier also lauded the security forces, saying: "Pakistan has seen tough times in its effort to combat terrorism but the situation today is different.”

He added that the country had maintained a difficult visa policy in the past that involved cumbersome procedures, making international visitors feel “it was better not to visit Pakistan.”

However, he continued that his government had taken “the first step to open up the country, the Naya Pakistan,” saying it would attract more tourists and create new business prospects for everyone.

“Foreign investment will only come to Pakistan if businesses know they can make money here,” Khan said while talking about the country’s tourism potential.

He also hoped that Islamabad’s relations with New Delhi would improve after the Indian elections, hinting that a change in the region’s political environment could invite more backpackers to the country.

Pakistan’s thriving tourism industry in the 1970s suffered astronomically due to political turbulence in the ensuing years. The menace of terrorism, following the 9/11 attacks in the United States, further exacerbated the situation, resulting in strict visa rules that kept many visitors away.

Prior to Khan’s announcement on Thursday, Information Minister Fawad Chaudhry had already informed that the new visa regime would initially allow citizens of the United Kingdom, United Arab Emirates, Turkey, Malaysia and China to apply for travel permits online or get visas on arrival.

He had also revealed that the facility would also be extended to other countries recognized by Pakistan after the success of the “pilot project.

According to an official handout titled “Pakistan Online Visa System,” the country’s diplomatic missions abroad have been permitted to grant 3-month visit visas while citizens from 96 countries are now eligible to get 5-year multiple-entry business visas.

The handout also maintains that the new policy will extend visa-on-arrival facility to citizens of 50 countries. Apart from that, people of Saudi Arabia, UAE, Turkey, Bahrain, Oman, Qatar, Kuwait and Malaysia will be able to apply for special 30-day multiple-entry visas. 

“The new visa policy will benefit the whole country,” Owais Usman, director of an Islamabad-based travel and tour company, told Arab News. “More tourism will help different commercial entities – such as hotels, vendors, transport operators, local tour operators – and we may also witness more sports tourism that will give a boost to the economy. It may also help us save some tourist sites and renovate ignored archeological remains of our Mughal, Sikh and Buddhist heritage.”

Retired diplomat, Javed Hafiz, also welcomed the new visa policy, saying: “It is being done for two reasons: One, to create a soft image of Pakistan and tell the world that the country is open to everyone; and, two, to promote tourism and investment which are our requirements, even if other countries don’t extend us reciprocal facilities.”


Pakistan stock market sheds over 2,000 points amid regional tensions

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Pakistan stock market sheds over 2,000 points amid regional tensions

  • KSE-100 index lost 2,025.53 points, or 1.1 percent, to close at 182,384.14
  • The development comes amid public unrest in Iran, possibility of a US strike

ISLAMABAD: The Pakistan Stock Exchange (PSX) fell sharply and lost more than 2,000 points during the intraday trade on Monday, with analysts blaming the slump on geopolitical uncertainty linked to heightened tensions in the region.

The benchmark KSE-100 index lost 2,025.53 points, or 1.1 percent, to close at 182,384.14 points, down from 184,409.67 points at the weekend close, according to PSX data.

The development came amid public unrest in Iran over worsening economic conditions, with the death toll reaching nearly 550 and the government arresting more than 10,600 people in a crackdown.

US President Donald Trump said late Sunday his administration was in talks to set up a meeting with Tehran but cautioned he may have to act first as reports mount of increasing deaths and the government continues arrests.

“[Pakistan] stocks slumped on geopolitical uncertainty,” Ahsan Mehanti, chief executive officer at Arif Habib Commodities, told Arab News. “Weak global equities, political noise, and security unrest played a catalyst role in selling activity at PSX.”

Meanwhile, Pakistani market research firm Topline Securities said activity slowed noticeably as buying interest from local funds eased after last week’s strong rally.

“With the market having advanced nearly 3 percent on a WoW (week on week) basis, investors chose to lock in gains, resulting in broad-based profit-taking during the session,” it said on X.

“The pullback appears to be a healthy consolidation after the recent sharp up-move, rather than a shift in the market’s underlying sentiment.”

It said that a total of 1,055 million shares were traded at the market on Monday, with Fauji Foods Limited (FFL) topping the volume chart with 65.6 million shares.

Pakistan’s stock market has gained momentum in recent months as broad institutional buying boosted investor confidence amid ongoing economic reforms under international lending programs.

Around 135,000 new investors have joined the PSX over the last 18 months. Last week, Pakistani stocks climbed to a fresh all-time high with the benchmark KSE-100 Index crossing the 186,000-point mark for the first time ever.