ISLAMABAD – PTI government has decided to connect with the digital worldand utilise the multi billion dollars commerce market.
Finance Minister Asad Umar asked the central bank to connect with foreigndigital payment operators, including PayPal, in the multimillion dollars ofecommerce market currently dominated by cash-on-delivery.
Umar directed the State Bank of Pakistan (SBP) to review rules/requirementspertaining to payment system operators and providers specifically relatedto threshold for minimum initial capital requirements in order to encouragenew entrants and expedite the work on unified payment interface andnational payment gateway.
The finance minister was addressing a meeting to review the informationtechnology exports and digital payments to drive digital inclusion. Umaralso recommended a team of stakeholders from ministry of informationtechnology andtelecom and SBP to establish contacts with PayPal with anengagement of Pakistani Ambassador to the US and renowned Pakistaniexpatriates working in the Silicon Valley.
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The meeting aimed to roll out a structured process to address major issuesand challenges being faced by the IT and telecom industries to drive thesocioeconomic agenda of the government.
