Govt is eager to bring PayPal in Pakistan
PTI’s government has formed a parliamentary panel to work on bringing PayPal and other online payment services in the country. The decision came after the approval of Pakistan’s first-ever e-commerce policy framework.
In the first e-commerce policy, the government decided to shift the cash-on-delivery (CoD) payment method to digital payments from September 2022 for payments of more than Rs10, 000. The final target is set to transfer all CoD payments to digital payments within 10 years period.
It is very important for the government 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 Ministry of Science and Technology, Nasim Nawaz briefed the senate standing committee. He said, “The policy related to PayPal is at the advanced stage and important development is expected in the next two weeks.”
Senator Mushtaq Ahmad expressed the need 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 do not yield any benefit for the students and even those who will invest in such ventures. It is easier to get copyright of any product registered in the US compared to getting it done in Pakistan.”
Earlier this year, the online payments 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.