Economics
Pakistan to Tap Overseas Nationals for Funds to Revive Economy
- Diaspora bonds, funds to be sold to Pakistanis abroad
- Pakistan got up to $40b investment proposals from five nations
Employees work at an assembly plant in Karachi, Pakistan.
Photographer: Asim Hafeez/Bloomberg
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Pakistan will raise $500 million in March through a fund aimed at its nationals living overseas, as South Asia’s second-biggest economy seeks investment after averting a balance-of-payment crisis.
Pakistani citizens living abroad will be asked to invest in the fund managed by the Board of Investment and the central bank, Haroon Sharif, the chairman of the state-run agency, said in an interview in Islamabad. Prime Minister Imran Khan’s administration will also sell a so-called diaspora bond in January, finance ministry spokesman Khaqan Hassan Najeeb said in a separate interview Friday.