The IT and Telecommunications Minister, Dr. Umar Saif, shared some exciting news. He said that Stripe and PayPal in Pakistan will be starting soon for online payments.

Discussions about Paypal and Stripe in Pakistan.

Dr. Saif talked about Stripe & PayPal in Pakistan in a meeting with the media. He explained how important these services are for the many people in Pakistan who work as freelancers.

Dr. Saif knows there have been problems getting PayPal and Stripe to work in Pakistan. There were concerns about rules from the Financial Action Task Force (FATF).

But Dr. Saif is hopeful. He said, “I think we will get good news about Stripe and PayPal in Pakistan in the next four to six weeks. We will make sure our freelancers can use these services.”

Pakistan has lots of freelancers, about 1.5 million. This makes Pakistan the second biggest country for online freelancers in the world.

Dr. Saif also talked about the need to make the technology industry in Pakistan stronger. He talked about a program called E-Rozgar, which will give interest-free loans to businesses and make places where people can work together.

Pakistan has about 19,000 tech companies. They give jobs to about 150,000 people and make about $2.5 billion from exporting tech products.

Another problem for tech companies in Pakistan was that they couldn’t take their money earned in foreign countries back to Pakistan. Dr. Saif said that now, companies can keep 50% of their money in a foreign currency account.

They can also get special debit cards to use for business in other countries. The rules about using this money have also become simpler, which should help more money come into Pakistan.

Dr. Saif said that they have started the process to let companies use the 5G network, which will give people faster internet and better mobile services. They are also working with the Pakistan Telecommunication Authority to let people pay for expensive phones in smaller amounts, which could create a market for high-end phones in Pakistan.

Lastly, Dr. Saif talked about making sure that people’s online information is safe. They plan to make a group to look after online security.

All of these changes should make the tech industry in Pakistan even better, which is good for people who work online and for tech companies.

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