PayPal and Stripe to be Introduced in Pakistan

IT Minister Dr Umar Saif confirmed that the Prime Minister has given Approval to Introduce PayPal and Stripe in Pakistan. 

Dr. Umar Saif, the IT Minister, took to the social media platform X (formerly known as Twitter) to share that the caretaker Prime Minister Anwaarul Haq Kakar had granted approval and expressed appreciation for a comprehensive plan presented by the Ministry of IT and Telecom. This plan includes the introduction of PayPal and Stripe services in Pakistan.

The plan encompasses several key components, such as bolstering IT exports through the establishment of dollar retention accounts, facilitating fund movement in and out of these accounts via IT corporate debit cards, addressing tax-related issues, and offering training to 200,000 IT professionals with the aim of contributing $5 billion to the IT export sector.

Dr. Saif's social media post underscored the significance of bringing PayPal and Stripe to Pakistan and establishing co-working spaces to accommodate 500,000 freelancers. This initiative aims to generate an additional $3 billion in annual revenue.

Furthermore, the plan envisions the launch of Starlink in Pakistan to enhance nationwide connectivity.