The government is likely to approach PayPal, a US-based financial services company and online money transfer system again for inviting to Pakistan and launching services. Due to lack of an online money transfer system, the country is losing huge foreign exchange reserves, besides not letting the freelance sector to flourish.
Chief Executive Officer (CEO) Ignite Yusuf Hussain while briefing the Senate Standing committee on Information Technology and Telecommunication requested that Prime Minister Imran Khan and Advisor on Finance should talk to CEO PayPal and invite him to come to Pakistan.
The Govt of Pakistan is Likely to Approach PayPal Again
The committee observed that due to lack of online money transfer system, the country is losing huge foreign exchange reserves, besides not letting the freelance sector to flourish. Further entrepreneurs are being deprived of millions of dollars as well.
Senator Faisal Javed of Pakistan Tehreek-e-Insaf (PTI) assured the committee that the matter of bringing PayPal to the country would be taken with Prime Minister and Advisor on Finance.
In earlier committee meetings, it was revealed that PayPal is not coming to Pakistan owing to lack of legal backing as well as fear of money laundering incidents in the country.
CEO Ignite further said that Ignite focuses on fourth industrial wave tech and on ecosystem development initiatives to fulfil its mission of creating a knowledge economy in Pakistan. The national network of incubators nurtures startups, while the Seed Fund provides grants to innovative, deep tech projects and startups.
DigiSkills.pk will deliver one million training in the future of work by 2020 and have trained around 0.5 million so far with a cost of around Rs 700 per person. He further said that those who were trained under the DigiSkills have earned around $38 million so far.