Our Top priority is enabling PayPal and Stripe in Pakistan : IT Minister Dr. Umar Saif

Dr. Umar Saif, the overseer of IT & Telecom as well as Science & Technology in Pakistan, has prioritized the introduction of PayPal and Stripe payment services to the country’s financial landscape.

During his address at the ITCN Asia 2023 event held in Karachi, Dr. Saif acknowledged the challenges confronted by freelancers due to the absence of these payment platforms. He emphasized the critical role PayPal and Stripe play for freelancers, who constitute a significant segment of Pakistan’s online workforce. Dr. Saif has outlined plans to engage with these companies to facilitate their entry into the Pakistani market.

Furthermore, he highlighted the potential of Pakistan’s IT industry in contributing to the nation’s economy, considering it ranks as the world’s second-largest online marketplace for freelance workers. Pakistan boasts approximately 400,000 freelancers.

Dr. Saif is cognizant of the hurdles faced by the IT industry, including shifting tax policies and repatriating earnings to Pakistan. To address these issues, the government is exploring innovative solutions such as dollar retention accounts, with the aim of rapidly expanding the industry from $2.6 billion to $3.5 billion.

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