“The Government of Pakistan and PayPal, a global online payment system, have come to an agreement that will benefit over one million freelancers in the country by easing the process of receiving money. Umar Saif, the Caretaker Federal Minister for Information Technology and Telecommunication, shared this news in Islamabad.
While PayPal is not directly entering Pakistan, the agreement will channel remittances from PayPal through a third party. The formal launch ceremony is scheduled for January 11. The ministry is also planning to provide smartphones to customers in easy installments and conduct standardized quality tests for IT graduates next week.
Freelancers in Pakistan have long awaited the integration of an online payment system, and this development is seen as a positive step. Previous efforts were made by officials, including former finance minister Asad Umar in 2019. The arrival of PayPal is expected to benefit around 200,000 freelancers and over 7,000 registered small and medium enterprises.
Saif highlighted a policy intervention that allows IT companies to keep 50% of their export revenue in dollars in a Pakistan account, leading to a 13% increase in export revenue in one month. An initiative to provide smartphones in easy installments will begin on January 12, with Jazz planning to offer iPhones. The move aims to support the country’s extensive online workforce, estimated at 1.5 million individuals, making Pakistan the second-largest online workforce globally.”