The Ministry of Commerce has entered into an agreement with National Insurance Company for comprehensive insurance of businesspersons visiting Pakistan for commercial purposes.
This was stated by Mr Munir Qureshi, Secretary Ministry of Commerce while briefing the Prime Minister at the PM House this afternoon.
Mr Munir Qureshi informed the Prime Minister that over the last 30 years, 29 countries including United States of America, some member countries of European Union, Australia etc had issued negative Travel Advisories to their citizens on travel to Pakistan. This meant that either Insurance cover was not available to their citizens when traveling to Pakistan or they had to pay a very high premium.
The Ministry of Commerce has now made arrangements with the National Insurance Company to provide Insurance Cover to foreigners who are invited by Pakistan businessmen to visit Pakistan for business purposes. The Company, he said would ensure prospective foreigners for $ 200000, $ 300000 ad $ 500000 for the period of their stay in Pakistan. Also that the government would provide adequate security to foreign investors/ businesspersons visiting Pakistan, he added.
This step would remove a longstanding irritant in the way of foreigners who intended to visit Pakistan for business/investment purposes and encourage them to visit the country, said Secretary Commerce.
The Prime Minister appreciated the efforts of Ministry of Commerce to encourage trade and investment and directed the Ministry to disseminate this information through Pakistan Missions.
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