Finance Minister Asad Umar said that Pakistan needs a reliable online payment gateway like PayPal in order to promote the needs of the country’s IT and e-commerce sector. To this end, the Finance Minister signaled his willingness to go meet PayPal’s CEO Mr. Daniel Schulman on the next flight because he said I don’t understand why PayPal is ignoring such a big market like Pakistan, so in meeting he will convince him to consider the Pakistani market.
Highlighting Pakistan’s IT sector and the market potential, he does not understand why PayPal is not involved in exploring a vast market. Asar Umar also mentioned that even if PayPal does not set up shop here, there must be some other alternative that Pakistanis can use as an internationally accepted payment gateway.
“I have met Prime Minister Imran Khan and IT Minister in the past few days just to make sure we are moving in the right direction in this regard,” the minister said.
Asar Umar is hopeful to attract either PayPal or other worldwide accepted alternative during the next four months, pointing to the fact that many entrepreneurs and startups need it.
During an online interview, he was asked about why Pakistan has closed sales on other spectrum after the 4G auction. He responded that even though spectrum sale has shut down, there are still more chances available. He pointed to Myanmar’s example, saying that they have mobile spectrums higher than 400 Mhz whereas Pakistan has shut off sales after auctioning off 124 MHz of it. Why are we still holding on to that? This is not a finite resource that could end.