PayPal is a well-known online payment platform that has been requested a number of times in Pakistan.
It’s mainly useful for freelancers who work for international companies and get payment from entities overseas without any currency transfer hassle. Another use is to make payments to online advertising platforms or to buy digital services.
Asad Umer, the current government’s finance minister, said that PayPal or a similar payment service will be introduced in Pakistan within the next 3 to 4 months.
In a TV interview, the minister discussed his idea of how more jobs can be created in Pakistan and his strategy to increase exports, adding that a service like PayPal will be introduced.
Pakistan is currently in a dire economic condition, with a giant budget deficit that might take a lot more work to control. Asad Umer says that the best way to deal with this is by working on the small-business sector.
He said that big investments and giant ventures don’t exactly create jobs or increase exports. They are a way to bring in investment and capital, they bring technological advancement, but do not create as many jobs. Pakistan’s trading sector relies on exports relating to cloth, textile, and other such items which also generate jobs and improve the country’s economic outlook.
Concluding his interview, Asad Umer said that Pakistan has an untapped talent pool of youngsters. They need a payment platform, like PayPal, to bring in the dollars from freelance work.
You can view the interview for yourself here: