Launch on 11th January: Freelancers to channelize remittances thru Paypal

ISLAMABAD: The government has resolved the long-standing demand of freelancers while enabling them to channelize remittances through the international gateway—Paypal.

This was revealed by caretaker federal minister for Information Technology and Telecommunication Dr Umar Saif while talking to a select group of journalists, who also stated that the Cabinet has approved the National Space Policy to allow private-sector companies to use low-orbit satellites in space to start satellite communication services for people.

Pakistan to hear ‘good news’ regarding PayPal, Stripe payment gateways soon: Dr Saif

Dr Saif informed that the Ministry of Information Technology and Telecommunication is set to launch several digital initiatives next week including channelizing remittances through PayPal, providing smartphones to customers on easy installments as well as standardized quality test for IT graduates to make Pakistan a “Tech Destination”.

Currently, there is no financial instrument available to facilitate payments.

The minister said that PayPal is not coming to Pakistan but an agreement has been reached under which the remittances would be channelized from Paypal through a third party.

The formal launching ceremony in this regard is scheduled on January 11, he added.

The minister while highlighting the initiatives taken by the government to bolster exports of the IT and telecom sectors, stated that the sector exports is currently $2.6 billion, but in actuality it is around $5 billion as the industry parks a major portion outside the country to pay salaries of their international employees placed with foreign clients and incur monthly expenses for cloud hosting, marketing and sales on platforms like Google, Amazon, LinkedIn etc.

Can Pakistan boost its IT exports to $25 billion in a few years?

“We worked with the SIFC and the State Bank to make a big policy intervention, allowing IT companies to keep 50 per cent of their export revenue in dollars in an account in Pakistan and make their international expenses without any restrictions from this amount,” said the minister, adding that “IT companies are beginning to bring their dollars back home, and our export revenue jumped by 13 per cent in one month.”

Dr Saif further disclosed that his ministry with the coordination of all other stakeholders of telecom companies from January 12, 2024, will launch another initiative under which customers will get the latest model phones on easy instalments. Jazz is planning to offer iPhone on installments, he added.

In case of failure to pay instalment, the Pakistan Telecommunication Authority (PTA) would block the handset on the pattern of Device Identification, Registration and Blocking System’s (DIRBS).

The IT minister said the aim is to incentive responsible financial behaviour and ensure that smartphone accessibility continues to expand.

The minister said that under this policy, telecom companies will have the opportunity to directly offer smartphones to customers through installment plans, thereby, expanding the benefits of mobile broadband, especially among low-income segments in Pakistan.

In Dubai, Dr Umar Saif was a man with a few ‘missions’

In a landmark move set to transform Pakistan’s entrepreneurial landscape, the Ministry of IT and Telecom is poised to unveil the country’s inaugural startup fund on January 9, 2024.

The Ignite-National Technology Fund will take charge as the executing body, ensuring transparency through an independent steering body overseeing the operations.

The federal government has earmarked Rs2 billion for the creation of the Pakistan Startup Fund (PSF). Private investors are expected to match this contribution, with an additional Rs10 billion pledged by venture capitalists for successful startup graduates from the fund.

Replying to another question, he also announced that the Higher Education Commission (HEC) would conduct “Standardized Quality Measurement Tests” across universities in Pakistan to ensure job opportunities for fresh graduates.

'Contract based smart phone policy' being enforced from 15 Jan

The ministry has made significant decisions to revamp IT education in universities in collaboration with HEC, the National Computing Accreditation Council, the Examination Testing Council, the Pakistan Software Export Board, and the Pakistan Software Houses Association.

Copyright Business Recorder, 2024