The government is likely to invite PayPal again, a US-based financial services company and online money transfer system, for expanding to Pakistan and launching their services in the country.
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 them to come to Pakistan.
The committee observed that due to the lack of an online money transfer system, the country is losing huge foreign exchange reserves, and also hurting Pakistan’s freelance sector. 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 up with the Prime Minister and Advisor on Finance.
In earlier committee meetings, it was revealed that PayPal is not coming to Pakistan due to no legal backing and money laundering incidents in the country.
CEO Ignite further said that Ignite focuses on fourth industrial wave tech and on ecosystem development initiatives to fulfill 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 train one million people in the future of work by 2020 and have trained around 0.5 million so far at a cost of around Rs. 700 per person. He further said that people trained under DigiSkills have earned around $38 million so far.
