ISLAMABAD: To promote ease of doing business, the State bank of Pakistan (SBP) has been allowed to approve and endorse investments amounting up to $10 million in foreign countries by Pakistani companies, by the Economic Coordination Committee (ECC).
The SBP could only authorize overseas investments up to $5 million by the resident Pakistani companies. In case of foreign investments exceeding $5 million, it was referred to the ECC.
The ECC enhanced powers of the SBP to accord approval to equity overseas investment by the resident Pakistani companies.
However, the limit would be reviewed after every five years, added the sources.
On another occasion, the government has announced digital banking services for overseas Pakistanis, informed Special Assistant to Prime Minister Syed Zulfi Bukhari.
The Roshan Digital Accounts project is aimed to help overseas Pakistanis invest in the country easily.
The project was commenced on the demand of the overseas Pakistanis and approved after consultations with SBP and other commercial banks.
The project allows Overseas Pakistanis to make banking payments and investments directly.
In addition, the project allows the account holders to avail fix deposit services and direct transaction for buying residential and commercial property.
Overseas Pakistanis can open the bank accounts without visiting the country, in the desired currency, including Pakistani rupee or foreign currency, by submitting their basic information and documents to the State Bank of Pakistan online.
The account holders will also be able to withdraw their investment without any prior notice.
For news and blogs, visit Graana.com.
Islamabad: IMARAT Group has started landscaping works at the PWD Underpass, marking a fresh effort…
Islamabad: The Capital Development Authority has sent a summary to the Interior Ministry, requesting that…
Karachi: Sindh Chief Minister Murad Ali Shah has approved a record development budget of PKR…
Quetta: The Executive Committee of the National Economic Council (Ecnec) on Tuesday approved the Balochistan…
Rawalpindi: Phase I of the Rawalpindi Ring Road project is nearing completion, while the Rawalpindi…
Islamabad’s Capital Territory is set to get its own Capital House in Sector F-5 following…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
