PayPal and Stripe in Pakistan
PayPal and Stripe in Pakistan Dr. Umar Saif, who serves as the Minister for Information Technology in the interim government, has officially announced the federal government’s commitment to bringing both PayPal and Stripe to Pakistan. This significant development comes after a crucial meeting between Dr. Saif and Caretaker Prime Minister Anwaarul Haq Kakar, during which they jointly approved an extensive project aimed at fostering the growth of the IT industry in Pakistan.
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Dr. Saif emphasized the immense potential of the IT sector, suggesting that it could contribute up to $10 billion in exports if the existing hurdles are effectively addressed. In line with this vision, the Prime Minister has directed various governmental bodies, including those responsible for finance, commerce, energy, the State Bank of Pakistan (SBP), and the Federal Board of Revenue (FBR), to engage in consultations to facilitate the realization of this goal.
The IT Minister underscored the pivotal role that the IT sector will play in achieving economic stability through collaborative projects. He elaborated on ongoing efforts to provide training and skill development opportunities to young individuals, ultimately raising the quality of services within this sector.
Furthermore, Dr. Saif revealed that the government has initiated plans to train a staggering 200,000 IT professionals through a partnership between the industry and academia. The ultimate objective is to propel IT exports by an impressive $5 billion, marking a significant step towards Pakistan’s IT industry’s growth and global competitiveness.
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5G spectrum auction approved
Dr Saif said that the Federal Cabinet had approved the framework for Tele-Quom Information Culture and has given permission to set up a committee to auction Kendall on the 4G wireless network.
The committee headed by caretaker foreign minister Shamshid Akhtar will review the availability of factories on various free currency bands, including 700, 800 and 2600 MW and allow the auction to go ahead based on Safar Ashad of Pakistan Telecom Authority.