Pakistan, on July 24, waived off the visa fee for the citizens of as many as 126 countries in a bid to boost business, investment, and tourism in the cash-strapped country.
According to the revised guidelines, citizens from 126 countries can apply for business and tourist visas online, with a 24-hour processing time and no visa fees.
During a cabinet meeting, Prime Minister Shehbaz Sharif said that the move aims to make Pakistan more attractive for foreign investment and tourism.
“We have brought a major change in the visa regime, taking the number of countries exempt from visa fees to 126,” PM Shehbaz said. “Tourists, businessmen, and other travelers from these 126 countries will not be charged visa fees.”
The prime minister said that visa policy was revamped after discussions with his team. He agreed this would lead to a loss of few million dollars, but would be instrumental in promoting investment in the country.
“It was mutually agreed that we should take this quantum jump to ensure ease of doing business in Pakistan,” he added.
The prime minister hoped the new visa policy would make Pakistan an attractive destination for foreigners.
In addition, the cabinet approved a separate visa-on-arrival category for Sikh pilgrims holding passports of third countries. A monitoring dashboard for the online visa system will be set up in the Ministry of Interior to oversee the implementation.
These steps are part of Pakistan’s broader efforts to improve economic conditions, attract foreign investment, and address security challenges.
The country has been grappling with an extended economic crisis, leading it to seek financial aid from friendly nations and international lenders like the International Monetary Fund (IMF). Earlier this month, Pakistan reached a staff-level agreement with the IMF for a $7 billion bailout to solidify the macroeconomic gains achieved over the past year. These gains include bolstering foreign exchange reserves and reducing inflation from 38 percent to just over 12 percent.