F.P. Report
ISLAMABAD: Caretaker Information Technology Minister Dr. Umar Saif announced “good news” for Pakistani freelancers on Sunday, saying that they would “soon” be able to receive payments through the global online payment platform PayPal due to a new initiative by the government.
Despite Pakistan being home to thousands of freelancers, global online payment platform PayPal refused to extend its services to the South Asian country in 2019. PayPal refused to operate in Pakistan, saying it was not included in the company’s three-year roadmap due to a lack of business opportunities, regulatory and compliance issues, as well as concerns around fraud and money laundering in the country.
Pakistani freelancers have repeatedly demanded the government take measures to ensure global payment platforms Stripe and PayPal extend their services to the South Asian country.
“The good news is that Pakistani freelancers will now be able to receive money through PayPal,” Saif said in a video message shared by Pakistan’s IT ministry.
“And we have created this program in such a way that you don’t have to open a PayPal account in Pakistan to receive payments.”
Saif explained that any person or entity can transfer payments from abroad online to Pakistani freelancers through their PayPal wallet accounts. The payment would be deposited in the freelancers’ bank accounts.
The minister also said the government has approved a national space policy that allows private sector companies to use the latest technology of low-orbit satellites to provide communication services in Pakistan.
“Our users will be able to avail Internet services anywhere,” he said.
Over 650,000 Pakistanis have been exporting their IT services to different countries around the globe, either through freelance work or different IT companies, helping them earn around $200-250 million per month in export remittances to the country. Pakistan’s total IT export remittances were recorded at $2.6 billion in 2022.
Courtesy: arabnews
