ISLAMABAD - PTI government has decided to connect with the digital world and utilise the multi billion dollars commerce market.
Finance Minister Asad Umar asked the central bank to connect with foreign digital payment operators, including PayPal, in the multimillion dollars of ecommerce market currently dominated by cash-on-delivery.
Umar directed the State Bank of Pakistan (SBP) to review rules/requirements pertaining to payment system operators and providers specifically related to threshold for minimum initial capital requirements in order to encourage new entrants and expedite the work on unified payment interface and national payment gateway.
The finance minister was addressing a meeting to review the information technology exports and digital payments to drive digital inclusion. Umar also recommended a team of stakeholders from ministry of information technology andtelecom and SBP to establish contacts with PayPal with an engagement of Pakistani Ambassador to the US and renowned Pakistani expatriates working in the Silicon Valley.
The meeting aimed to roll out a structured process to address major issues and challenges being faced by the IT and telecom industries to drive the socioeconomic agenda of the government.