Govt is eager to bring PayPal in Pakistan
PTI’s government has formed a parliamentary panel to figure on bringing PayPal and other online payment services within the country. The decision took place after the approval of Pakistan’s first-ever e-commerce policy framework.
In the first e-commerce policy, the govt shifted the cash-on-delivery (CoD) payment method to digital payments from September 2022 for payments of quite Rs10, 000. They set the final target to transfer all CoD payments to digital payments within 10 years period.
It is vital for the govt to bring PayPal and other prominent online payment platforms to implement its policy of digitalizing the country’s economy. It will be a potential source of revenue for the government as the sector of e-commerce is evolving in the country, according to the study revealed by Google.
Secretary of the Ministry of Science and Technology, Nasim Nawaz briefed the senate standing committee. He said, The policy associated with PayPal is at the advanced stage and that they assume important development within the next fortnight.
Senator Mushtaq Ahmad declared the requirement for e-payment services in Pakistan, he said without such online payment systems the country cannot boost its economy.
Rector of Comsats University Dr. Raheel Qamar pointed out to the committee that the lack of effective copyright laws is discouraging innovation in the country. He mentioned the efforts made by the university management and students in research and development.
He further said, these advanced and successful researches don’t yield any benefit for the scholars and even those that will invest in such ventures. It is easier to urge copyright of any product registered within the US compared to getting it wiped out of Pakistan.
Earlier this year, the online payments from giant PayPal refused to come to Pakistan despite the same effort made by the PTI government. The Ministry of Information Technology Secretary, Maroof Afzal, told the Senate Standing Committee on IT that PayPal is afraid to come to Pakistan because there are no regulations to protect the company’s interests.