ISLAMABAD, Oct. 25 (Xinhua) -- Pakistani Ministry of Information Technology and Telecommunication is establishing a financial system and policy framework to introduce PayPal and Stripe payment gateways in the country, said a minister on Wednesday.
Minister of Information Technology and Telecommunication Umar Saif told media that the initiative is being taken with an aim to increase the payment ecosystem for the country's information technology (IT) industry which has been showing great potential to flourish.
The minister said that the ministry has been working to establish the Pakistan Startup Fund with funding from the central government to draw venture capitalists to Pakistan and promote the startup culture in the country.
Chairman of Pakistan Software Houses Association Muhammad Zohaib Khan hailed the establishment of the financial system and policy framework, stressing the importance of innovation and financial inclusion in achieving rapid growth in the IT and IT-enabled services industry in Pakistan. ■
