Federal Minister for Information Technology and Telecommunication Dr. Khalid Maqbool Siddiqui publicized that PayPal refuses to come to Pakistan. PayPal Refused to Come to Pakistan: IT Minister
According to the minister, the government is still in touch with PayPal to find any other alternatives. The minister announce this while briefing the Senate Standing Committee on Information Technology and Telecommunication. The committee meeting was chaired by Ms. Rubina Khalid.
PayPal Refused to Come to Pakistan: IT Minister
Secretary IT Maroof Afzal said:
PayPal did not decline because it has issues operating in Pakistan. Their internal working is such that they are not ready to introduce services in Pakistan.
Senator Mohammad Ateeq Sheikh said that the company is not coming to Pakistan due to lack of legal backing. He explained that PayPal is operating worldwide but has refused to come to Pakistan because of the fear of money laundering entry in Pakistan’s system.
According to him, government should offer a sovereign guarantee to PayPal and ask them for coming on Public Private Partnership basis to remove their apprehensions.
The committee observed that due to lack of online money transfer system, the country is losing huge foreign exchange reserves, besides not letting the freelance sector to flourish.