PayPal, Stripe payment gateways coming to Pakistan soon

In a promising announcement, Caretaker Federal Minister for IT and Telecommunications Dr Umar Saif shared that Pakistan is on the brink of receiving positive news regarding the availability of PayPal and Stripe payment gateways in the country in the coming weeks.

Nevertheless, he expressed confidence in the progress being made. He stated,"I am optimistic that we will hear good news regarding PayPal and Stripe in the coming four to six weeks, and through any formula, we will provide these services to our freelancer community." Pakistan's IT sector comprises about 19,000 companies, providing jobs for 150,000 individuals and generating approximately $2.5 billion in official exports.One significant hurdle for IT companies in Pakistan has been the restriction on repatriating foreign currency earnings. Dr. Saif pointed out that many IT firms retained their forex reserves and revenues outside the country.

The State Bank of Pakistan recently increased the permissible retention limit of IT exporters from 35% to 50% of their export proceeds in the Exporters’ Specialized Foreign Currency Accounts .

پاکستان تازہ ترین خبریں, پاکستان عنوانات

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