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Govt decides to launch property scheme for overseas Pakistanis

Islamabad: In order to bolster the country’s foreign exchange reserves, the government is considering to launch a special real estate investment scheme for Pakistanis residing across the globe, according to a publication (which quotes unnamed sources present in the prime minister’s cabinet meeting held on April 28).

Reportedly, Khan shared his expectations with the meeting member of the government raising USD 15 billion by selling 100,00 state-owned properties located across the country to overseas Pakistanis.

The main intention behind launching the scheme is to deal with the raising pressure on the economy due to the COVID-19 pandemic. These properties are expected to be offered at a price of USD 150,000 per plot, claimed the sources.

In order to proceed with the scheme, a land bank is being established. As per reports, the PM has directed various ministries and division to urgently identify un-utilized government land in their respective control; to be included in the land bank so that a comprehensive policy can be timely formed.

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