Caretaker IT Minister Dr. Umar Saif has unveiled an ambitious plan by the federal government to introduce global payment giants PayPal and Stripe to Pakistan. This exciting development aims to facilitate online financial transactions and provide new opportunities for freelancers and businesses in the country.
Boosting Pakistan’s IT exports
Dr. Umar Saif’s announcement came after a meeting with Caretaker Prime Minister Anwaarul Haq Kakar, during which a comprehensive project to boost the IT industry in Pakistan received approval. He further emphasized the potential for significant growth in IT exports, projecting a target of $10 billion if existing obstacles are effectively addressed.
The Prime Minister has approved and appreciated our plan for the Ministry of IT and Telecom:
1. Enhance IT exports by institutionalising dollar retention accounts, IT corporate debit cards to enable easy flow of money in and out of retention accounts, streamlining tax issues and… pic.twitter.com/QAQPT4ObZ8
— Umar Saif (@umarsaif) September 6, 2023
In line with this vision, Prime Minister Kakar directed key government entities, including the finance, commerce, energy, State Bank of Pakistan (SBP), and Federal Board of Revenue (FBR), to engage in consultations to facilitate the implementation of this forward-looking initiative.
Also read: Govt Launches ‘Beep Pakistan’: A Homegrown Alternative To WhatsApp For Enhanced Communication
The move to bring PayPal and Stripe to Pakistan signals a promising step towards fostering a more vibrant and inclusive digital economy, encouraging innovation, and expanding opportunities for the country’s tech-savvy workforce.
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