The Senate Standing Committee on Finance has issued instructions to the Ministry of Finance, Commerce Ministry, and the State Bank of Pakistan (SBP) to thoroughly investigate the matter of PayPal’s reluctance to operate in Pakistan.
On a complaint received at the Parliament House, the Senate standing committee on Finance headed by Senator Talha Mehmood has given a deadline of one month to resolve the matter.
Committee members observed that Amazon was working through PayPal, while in Pakistan, it was not operating. The committee wanted to know as to what are the barriers in Pakistan that stop PayPal from starting operations in the country.
The Additional Director State Bank of Pakistan stated that the SBP had not refused Paypal from operating in Pakistan. It is Paypal’s own business decision to operate in Pakistan or not. They are also not operating in other countries like Turkey and Bangladesh.
SBP official added that we have not put any entry barriers on Paypal. Visa and Master are working in Pakistan, and we have not stopped Paypal from working in the country, Additional Director State Bank of Pakistan added.
Additional Director State Bank of Pakistan stated that the Ministry of IT tried in the past to bring Paypal in the country but in vain.
The committee further directed that the Minister for Commerce should be asked to go deeper into the matter to find out whether there was any barrier in Pakistan that was preventing it from operation.
The committee endorsed the viewpoint of the Secretary of Finance’s proposal and gave one month to Finance Ministry, Commerce Ministry, and SBP to investigate the matter and submit the report to the committee.