Web Desk: The government of Pakistan is preparing a comprehensive plan to attract billions of dollars held by its citizens abroad, aiming to shore up foreign exchange reserves and stabilise the economy amid shifting global conditions, officials and media reports said.
Authorities have begun deliberations on policy measures to encourage overseas Pakistanis to repatriate assets, particularly in light of rising geopolitical tensions in the Middle East.
Recent high-level meetings concluded that evolving international conditions especially tensions involving Iran, the United States and Israel may prompt investors to move funds to safer jurisdictions.
Officials believe Pakistan could position itself as a viable destination for such capital, particularly for nationals seeking stability and familiarity in uncertain times.
Government sources estimate that Pakistani nationals hold around $20 billion in bank accounts across the Middle East and Europe. These assets were previously declared under amnesty schemes introduced in 2018 and 2019 but have yet to be transferred to Pakistan.
According to official records, a total of 82,889 declarations were filed under those schemes, generating approximately 194 billion rupees in tax revenue. However, a significant portion of the declared wealth remains parked overseas.
In response, policymakers are working to enhance the appeal of the Roshan Digital Account, a flagship initiative designed to facilitate overseas investment into Pakistan.
Proposals under consideration include expanding access to the scheme beyond overseas Pakistanis to foreign nationals and international companies. In addition, authorities are weighing options to allow residents within Pakistan to participate, a move aimed at reducing reliance on external dollar inflows.
Meanwhile, the government is also looking to stimulate the domestic real estate market by offering targeted incentives. One proposal would allow overseas Pakistanis to purchase property at a significantly reduced tax rate of 10% of the declared value.
However, officials stressed that the incentives would apply strictly to legally transferred funds, excluding undeclared or illicit assets from any benefit.
The proposed measures may be introduced in the upcoming federal budget or enacted earlier through a presidential ordinance, according to officials familiar with the discussions.
Economists say that successfully repatriating even a portion of the estimated $20 billion could provide a critical boost to Pakistan’s external account position, potentially easing pressure on reserves and strengthening overall economic stability.
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