Caretaker Federal Minister for Information Technology and Telecommunication, Dr. Umar Saif, announced positive developments regarding PayPal in Pakistan, addressing the longstanding demand of freelancers. The government has resolved to allow freelancers to channel remittances through the international gateway, PayPal.
Dr. Umar Saif highlighted several upcoming digital initiatives, including the facilitation of remittances through PayPal, scheduled for a formal launch ceremony on January 11. While clarifying that PayPal is not directly coming to Pakistan, an agreement has been reached to channel remittances through a third party. This move is part of the government’s efforts to position Pakistan as a ‘Tech Destination.’
The minister emphasized the government’s commitment to boosting the IT and telecom sector, stating that the official export figure of $2.6 billion is likely an understatement, as many IT companies park a significant portion of their earnings abroad for international expenses. To address this, policy interventions have been made to allow IT companies to retain 50 percent of their export revenue in dollars in a Pakistan-based account, leading to a 13 percent increase in export revenue in a month.