Pakistan Considers Incentives to Attract $20 Billion Back Amid Middle East Tensions

Islamabad: In response to growing tensions in the Middle East and changing global conditions, the federal government of Pakistan has initiated plans to bring back approximately $20 billion (around PKR 5.6 trillion) held by overseas Pakistanis.

According to government sources and reports by Geo News, much of this capital was declared under the 2018 and 2019 amnesty schemes but was never repatriated. Following recent U.S. and Israeli actions against Iran, uncertainty in the region has prompted expatriate Pakistanis to consider transferring their funds to safer destinations.

Officials revealed that the government is exploring the expansion of the Roshan Digital Account scheme to attract this capital. Under the proposed changes, foreign companies and Pakistan-based citizens could also invest through this platform. Previously, the amnesty schemes received 82,889 declarations, generating PKR 194 billion in tax revenue for the government.

Additionally, the government is planning to offer special tax incentives in the real estate sector to attract overseas Pakistanis. Under this scheme, only 10% tax would be levied on the purchase price of properties acquired through the program. Sources clarified that this facility will not benefit holders of black money. The scheme is expected to be implemented in the upcoming fiscal year’s budget or even sooner.