ISLAMABAD: Caretaker Minister for Information Technology (IT) and Telecommunications Dr Umar Saif asserted that Pakistan will hear ‘good news’ about PayPal and stripe payment gateways in coming weeks.

Addressing press conference along with Information Minister Murtaza Solangi, Dr Umar Saif said that his Ministry held talks with international payment gateways-PayPal, Stripe and WISE and presented country’s case to them.

.He expressed optimism that country would hear good news regarding PayPal and Stripe in Pakistan four to six weeks. “We will provide these services to our freelancer community,” he added. Earlier this month, caretaker IT Minister Umar Saif expressed his resolve to bring “PayPal and Stripe to Pakistan”. Umar Saif also highlighted revolutionary initiatives undertaken by Ministry in last two months to bolster exports of IT and telecom sectors.

He announced that caretaker government would provide interest-free loans to freelancers for establishing e-working centers. He said each freelancer would receive financial assistance of Rs 100,000 to set up their own e-working centre.

In order to facilitate IT exporters and to boost exports of IT and IT-enabled services, he said State Bank of Pakistan had increased permissible retention limit from 35 percent to 50 percent of their export proceeds in Exporters’ Specialised Foreign Currency Accounts.

Published in The Daily National Courier, October, 26 2023

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