PESHAWAR: Finance Minister Asad Umar on Monday said the government had not stopped PayPal from entering into the Pakistani market.

“PayPal is not stopped on my desk, the State Bank or in any other government institution. We are chasing PayPal,” Umar said during a news conference.

The finance minister stressed that he was aware of PayPal being an excellent source of income for Pakistani youngsters who work from home. “They face immense difficulties without PayPal or any effective online payment system.”

“I have taken the initiative myself and sent a message to PayPal CEO that this was important and I was willing to fly to America to hold a meeting,” Umar said, adding that talks with the company had been initiated.

Umar also spoke on AliPay which is part of Ali Baba, informing reporters that its subsidiary Ant Financial had bought the majority shares of Telenor Bank which used to be Tameer Bank.