RECORDER REPORT

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) strongly supports a scheme to bring back foreign investment made by Pakistanis aboard.

Talking to media here on Tuesday, Chairman Securities and Exchange Commission of Pakistan (SECP) Zafar Hijazi has said that the government should introduce a scheme for legalisation or regularisation of the foreign investments made by Pakistanis aboard to bring back such investments into the country.

He informed that the SECP supports a scheme to bring back investments made in different countries by Pakistanis in the form of offshore companies or other investments. I have requested Finance Minister Ishaq Dar to introduce a scheme to bring back investments in Pakistan, he said.

The investments made in the past by Pakistanis abroad could be brought back through the proposed scheme. The scheme should allow Pakistanis to make declarations of foreign investments in Pakistan on payment of tax, he said.

It is the right time to introduce such kind of scheme to encourage maximum investment in the country, Zafar Hijazi added.