Overseas Pakistanis: Panel seeks proposal aimed at removing barriers to investment

ISLAMABAD: A parliamentary panel on Thursday directed the Ministry of Overseas Pakistanis and Human Resource Development to submit a comprehensive proposal for removal of problems faced by overseas Pakistanis who desire to invest and stay in Pakistan.

The Public Accounts Committee (PAC) met under chairman Rana Tanvir Hussain, which examined the Ministry of Overseas Pakistanis and Human Resource Development and Overseas Pakistanis Foundation (OPF) for the audit year 2019-20.

Member Committee Munaza Hassan criticised the ministry on non-existence of policy for those Pakistanis who want to invest in Pakistan or take back their earnings abroad.

She said there was a long process for overseas Pakistan who planned to purchase a car or open a bank account in Pakistan.

She further said that he or she required the NTN number to purchase a new car or bank account or wish to take back investment abroad.

The Auditor General of Pakistan (AGP) also pointed out that it required four to five years in process for overseas Pakistanis who invested in real estate business and want to take the profit and capital amount back to his resident country.

The Chairman Committee, endorsing the view point, directed the ministry to prepare a proposal in coordination with Munaza Hassan, and also involved the Ministry of Finance, the Federal Board of Revenue (FBR), and other relevant departments.

Earlier, the committee recommended director general OPF to expend the scholarship scheme and schools for overseas Pakistanis across the country for the facilitation of worker category of overseas Pakistanis.

Committee Members Shahida Akhtar and Talha Mahmood recommended that senior teachers in the OPF school system should not be provided VSS or replace them with junior teachers on less salary, which was tantamount to compromise the high standard of OPF 26 schools.

Earlier, the committee discussed audit paras worth Rs1.032 billion on non-capitalization of schemes, non-transparent award of work, un-justified setting off doubtful receivables and un-authorized/unjustified setting off advances.

Copyright Business Recorder, 2022