Government Likely to Invite PayPal Once Again

The government is likely to invite PayPal again, a US-based financial services company. UU. And an online money transfer system, to expand to Pakistan and launch its services in the country.

The Executive Director (CEO), Ignite Yusuf Hussain, while informing the Senate standing committee on Information Technology and Telecommunications, requested that Prime Minister Imran Khan and the Financial Advisor should speak with CEO PayPal and invite them to come to Pakistan .

The committee noted that due to the lack of an online money transfer system, the country is losing huge foreign exchange reserves and also damaging Pakistan’s independent sector. Entrepreneurs are also deprived of millions of dollars.

Senator Faisal Javed of Pakistan Tehreek-e-Insaf (PTI) assured the committee that the issue of bringing PayPal to the country would be addressed with the Prime Minister and the Financial Adviser.

In previous committee meetings, it was revealed that PayPal will not come to Pakistan due to lack of legal support and money laundering incidents in the country.

CEO Ignite also said that Ignite focuses on the technology of the fourth industrial wave and on ecosystem development initiatives to fulfill its mission of creating a knowledge economy in Pakistan. The national incubator network encourages startups, while the Seed Fund awards grants to innovative and deep technology projects and startups. will train one million people in the future of work by 2020 and has trained around 0.5 million so far at a cost of around Rs. 700 per person He also said that people trained under DigiSkills have earned around $ 38 million so far.

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