Later YouTube was unbanned and it's been adding a lot of revenue to country through income generated by content creators and taxes they pay and a lot of companies pay for ads and all which is adding up something to this economy.
it's 2023 and yet we don't have PayPal availability in my country (Pakistan) and this really sucks.
We do have a large freelancer community in this country who are selling services to people around the globe and yet "unavailability of PayPal" creates a lot of burden and hustle.
Paypal: Payment or international Transactions
Majority of clients prefer to pay through PayPal since it's available around the world and that's easy to use and transfer money.
But when they find out we don't have PayPal as a payment option, they search for someone else cuz haven't got enough time to work with someone like no PayPal and bank transfers aren't one click thing.
Image by Iqbal Nuril Anwar from Pixabay
Since Our country Pakistan is ranked 5th largest Freelancing. It does generate around $0.5Billion and more.
Half a Billion Dollar Boost in Nation Finances
Only if PayPal arrives, it could almost double the revenue generated through freelancing since majority of people don't withdraw their income into local currency and keep it in usd.
In most cases, withdrawing without PayPal takes one or two different apps that cuts more fee's and than additional taxes adds up.
Image by Lukas Bieri from Pixabay
In my opinion we should have PayPal and more Fintech and such essential things that makes ease for people to purchase online, get payment from abroad and all in one click with gov implemented taxes which will strengthen our economy.
But no, our government is trying now in 2023 to bring PayPal in country but that won't happen like before since state bank doesn't want it to come in country.
Why is Paypal Not coming?
It's because of money laundering is a big concern here and frauds too even though our own government officials are involved in such activity.
Also we have regulatory issues like I said state bank doesn't want to work as PayPal wants.
So, I guess we won't ever see PayPal while PayPal is adding Stablecoin, working on tech and is also crypto friendly.
In both cases our country is left far behind just like our own economy and federal reserve is at it's lowest down below Sri Lanka bankruptcy reserves.
What should be banned?
Instead of Paypal, I'm not agree with banning anything but still I'd say TikTok needs to be taken down.
Not doing any good to this nation, people creating cringe content, fighting for their favorite political party and agendas.
Youth can empower the economy when it'll have opportunities and will be allowed to do what they're good at without restrictions or problems. All we got in this country is problems after problems without bringing a solution.
Wrapping Up...
In the end, who knows when we'll have PayPal or there might be better alternative to this in future but hopefully the boost that it could add to our nation finances is something I really want to see happening.
I wonder if it's just my country or you guys have such ban culture like thing? Let me know that in comments.
Fin.
