There are few efficiently integrated services in Pakistan that offers online merchant account to the businessmen in Pakistan. But you can now see Pakistan in the drop down list when you enter your business information for international purposes as well. Online marketers, digital business owners and bloggers strongly desired for PayPal officialpresence in Pakistan. That’s why  added it to the list of supported countries so they can take their business to the next level. This has always been discussed numerous occasions and forums but it has never been convenient for Paypal to enter such turbulent market. Pakistan for multiple reasons such as volume of business, terrorism and the elusive rules imposed by the State Bank has been deprived of such initiatives. So why is Pakistan listed in Country List of PayPal while signing up?
Honestly this is more of a speculation but most people on social media believe that it could be possible because of many reasons:

1. It is a technical fault (or bug) and will be fixed soon.
2. They are working on their systems to add Pakistan in allowed Country List and slowly updating their system.

The official blog post of PayPal says the service is still not launched but we are aiming at expanding so see what is next.

Will PayPal launch in Pakistan