KARACHI: This is with reference to Monis Rahman’s article ‘PayPal in Pakistan’ (May 6). I believe that 80 per cent of our focus should be on actually improving the reality of our current situation. The problem is that in terms of regulations, laws against money laundering, compliance, enforcement, forensics and the judicial system needed to address financial issues and disputes Pakistan is well behind the rest of the world.
Forget multinational companies or foreign investors, even local companies are afraid to do business here. This needs to be fixed at high priority and I understand it may be a long-term thing because there are no quick fixes and short cuts. The remaining 20 per cent of our focus should be on improving our image.
Yes, there is a lot of room for improvement in this space, like the writer has mentioned in his article. Finally, one should always look for local solutions to our problems. If the e-commerce market is so viable then why doesn’t a local company come up with a payment solution for it?