*ISLAMABAD – Pakistan is planning to bring PayPal services in country toregularise the money transfered in Pakistan from several sources abroad.*
*Finance Minister Asad Umar has said that he has given four months **to theIT ministry to convince PayPal to come to Pakistan.*
The US-based financial services company is an online money transfer systemused by individuals and businesses to make payments. For example, aconsumer can purchase his favourite book from Amazon.comlink if he has a PayPal account. However, the services werenot available in Pakistan.
He said that he asked the IT ministry to form a task force, and evensuggested names for it. Umar says he has told the minister to eitherconvince PayPal to come to Pakistan or work on launching a home-grownonline payment system.
Read Top Stories
The minister is even willing to meet PayPal CEO, and convince him to come.
If PayPal comes to Pakistan it will facilitate about 2,00,000 freelancers,who earn more than $500 million. These freelancers currently usenon-banking (informal) channels to receive payments.
