Paypal in Pakistan
Federal Minister for Information Technology and Telecommunication, Dr Khalid Maqbool Siddiqui said that PayPal is not coming to Pakistan. The federal government is in touch with PayPal and it is looking for alternatives. The federal minister briefed the Standing Committee of Senate on Information Technology and Telecommunication and Rubina Khalid chaired the committee meeting. PayPal Not Coming to Pakistan Due to Lack of Legal Backing.
The Secretary IT said that PayPal has some internal issues and due to these issues, PayPal does not want to come to Pakistan. He said that there are some security and anti-money laundering laws, which have been tightened and there is now on part of Pakistan. Senator Muhammad Ateeq Sheilk said that due to lack of legal backing, the company has refused to come to Pakistan. He further added that PayPal is operating all over the world and the government should provide the sovereign guarantee to PayPal and ask them to come with Public Private partnership to remove the apprehensions.
PayPal
The committee said that there is lack of online money transfer system and the country is losing huge foreign exchange reserves.
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