The finance secretary has been directed to hold a meeting with all stakeholders to investigate why PayPal is not operating in Pakistan.
A meeting of the Senate Standing Committee on Finance Revenue and Economic Affairs was held at the Parliament House which was chaired by Senator Talha Mahmood.
According to cabinet members, people are unable to take full advantage of Amazon because PayPal does not operate in Pakistan.
However, a representative of State Bank of Pakistan said that there is no restriction by State Bank of Pakistan on PayPal.
According to a document of the Finance Division, presented before the committee PayPal is a private company with a presence in various countries.
“However, PayPal has not approached State Bank of Pakistan (SBP) for the same. Entering into a particular market is a business decision and SBP is of the view that there is no restriction on entry/operations of any international payment gateway in Pakistan subject to compliance of related foreign exchange regulations,” read the document.
Committee members revealed that PayPal is working in many small countries that have a population lower than that of Pakistan.
The committee tasked Finance Secretary Yusuf Khan to hold meetings with all stakeholders to find out why PayPal and e-commerce giant Amazon is not operating in the country and sought a report after a month.
Earlier in May, Amazon had added Pakistan to its seller’s list however due to non-availability of PayPal, people are unable to properly benefit from the facility.