Are PayPal and Stripe Really Coming to Pakistan?

Caretaker IT Minister Dr Umar Saif has confirmed that the federal government is planning to bring PayPal and Stripe in Pakistan besides establishing co-working spaces for freelancers.

The IT Minister Dr Umar Saif made the statement after meeting with Caretaker Prime Minister (PM) Anwaarul Haq Kakar. During the meeting, the PM approved a comprehensive project for promoting the IT industry.

IT Minister Confirmed PayPal and Stripe Arrival in Pakistan

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Dr Saif said that if we remove the payment barriers, the IT exports could boost up to $10 billion. The premier directed finance, commerce, energy, State Bank of Pakistan (SBP) and Federal Board of Revenue (FBR) will hold consultations.

Dr Saif said that the IT sector would play a vital role in economic stability after the project cooperation. He detailed that the government is already training the youths for improvement in the services sector.

“The government commenced working on its plan to prepare 200,000 IT professionals with the collaboration of the industry and academia. The professionals would play a role to increase IT exports by $5 billion.”

In a detailed message on X (formerly Twitter), Dr Saif said that the caretaker premier approved and appreciated the plan to Launch a government-backed Pakistan Venture Capital Fund to attract top-tier international VCs to Pakistan, enabling $1 Billion VC investment in startups.

He added that the PM has also approved the launch of Starlink in Pakistan to improve connectivity throughout the country.

Under the plan, the government would enable active spectrum sharing, forward-looking taxation policies, regulations and incentives for the telecom industry to prepare for the upcoming 5G auction within 10 months.

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