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PM Kakar Greenlights PayPal, Stripe, and Starlink in Pakistan

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In a groundbreaking move, Caretaker Prime Minister Anwaarul Haq Kakar has given his approval and expressed his appreciation for a comprehensive plan. PM Kakar Presented, by IT Minister Dr. Umar Saif, which encompasses various initiatives to propel Pakistan’s technology and telecommunications sectors forward.

PayPal and Stripe Set to Launch in Pakistan

One of the pivotal components of this plan is the introduction of globally. Recognized payment platforms, PayPal and Stripe, to the Pakistani market. PM Kakar, This milestone decision is poised to revolutionize the way online transactions are conducted in Pakistan. Making it easier for businesses and individuals to engage in international commerce.

Boosting IT Exports and Professional Development

The plan includes strategic measures to enhance IT exports, such as the institutionalization of dollar retention accounts. And the issuance of IT corporate debit cards to facilitate the seamless flow of funds. Additionally, efforts will be made to streamline tax procedures. To further bolster the IT industry, the ambitious goal of training 200,000 IT professionals is set. With the aim of contributing an impressive $5 billion to IT exports.

PM Kakar image 1

Empowering Freelancers and Connectivity with Starlink

In a bid to empower freelancers, the plan outlines the establishment of co-working spaces tailored to serve 500,000 individuals. Potentially adding an extra $3 billion to Pakistan’s economy annually. Furthermore, the launch of Starlink services across Pakistan will significantly enhance connectivity, bridging digital divides and fostering nationwide development.

Venture Capital Fund and 5G Readiness

To stimulate innovation and entrepreneurship, the Ministry plans to introduce the Pakistan Venture Capital Fund. Aimed at attracting top-tier international venture capitalists to invest in Pakistani startups. With a goal of raising $1 billion in VC investments. The Ministry also commits to enable active spectrum sharing, develop forward-looking taxation policies, regulations, and incentives. To prepare the telecom industry for the upcoming 5G auction, scheduled within the next 10 months.

Local Smartphone Manufacturing and Financing

In a bid to promote local industry and meet the growing demand for smartphones. The plan includes incentives for the local manufacturing and export of smartphones in Pakistan. Additionally, a smartphone financing platform will be introduced, making it easier for individuals to purchase smartphones. Through monthly installment plans, thus boosting local demand.

This comprehensive plan represents a significant stride towards advancing Pakistan’s IT and telecom sectors. Setting the stage for a brighter and more connected future.

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