The federal government is set to reach out to PayPal and invite the global online payment solutions provider to start its services in Pakistan.
A Pakistani digital news outlet, citing official sources, said that Prime Minister Shehbaz Sharif is scheduled to attend the upcoming annual meeting of the World Economic Forum (WEF) in Davos, Switzerland next week, where he will be meeting global leaders and the executives of companies from different walks of life.
On the sidelines of the Davos gathering, the prime minister will also hold a meeting with the officials of PayPal and invite the company to kick start its services in Pakistan.
Ministries of Finance and the Ministry of Information Technology and Telecommunication (MoITT) are researching the endeavor. The meeting will also be attended by the representatives of at least one of the ministries, sources said.
According to the global payment platform ‘Payoneer’s Global Gig Economy Index’, Pakistan ranked among the top four freelance markets leaving behind regional countries including India, Bangladesh, and Russia.
But Pakistani freelancers face difficulties while receiving payments from abroad as top global payment companies such as PayPal do not provide their services in Pakistan.
Pakistani officials also made attempts to bring PayPal to the country in the recent past but the global online payment giant declined Pakistan’s several requests showing concerns about strict regulatory restrictions.