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The Government of Pakistan is likely to approach PayPal again



It is likely that the government will again contact PayPal, a US financial services company and online money transfer system, to re-invite Pakistan and launch services. In the absence of an online money transfer system, the country loses huge foreign exchange reserves while not letting the autonomous sector prosper.

Chief Executive Officer Ignite Yusuf Hussain, briefing the Senate Standing Committee on Information Technology and Telecommunications, has asked Prime Minister Imran Khan and the Financial Advisor to meet with the Director General of PayPal and invite him to visit Pakistan.

The Government of Pakistan is likely to bring back PayPal

The committee noted that due to the lack of an online money transfer system, the country was losing huge foreign exchange reserves and was not allowing the autonomous sector to prosper. Other business owners are also deprived of millions of dollars.

Pakistani Senator Tehreek-e-Insaf (PTI), Faisal Javed, assured the committee that the issue of introducing PayPal into the country would be discussed by the Prime Minister and the Minister of Finance.

At previous committee meetings, it was revealed that PayPal would not be going to Pakistan because of a lack of legal support and fear of money laundering incidents in the country.

Ignite's Managing Director, Ignite, said that Ignite focused on the fourth wave technology and industrial ecosystem development initiatives to fulfill its mission of creating a knowledge-based economy in Pakistan. The national incubator network encourages startups, while the start-up fund provides grants for innovative high-tech projects and startups.

DigiSkills.pk will provide one million future trainings by 2020 and has trained about 0.5 million people to date, at a cost of Rs 700 per person. In addition, he said the people trained under DigiSkills had so far earned $ 38 million.

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