Senator Aon Abbas Buppi, the Prime Minister’s Special Assistant on E-Commerce, estimated the country’s e-commerce trade would reach $9.1 billion by 2025.
He told APP that Pakistan was a growing e-commerce business with the potential to dominate the regional market and become a global player. He noted the country’s e-commerce business had only $4 billion in revenue, significantly less than its regional competitors.
We can balance our trade imbalance and increase the country’s economic growth, according to Aon Abbas Buppi. He added that e-commerce had a larger market volume than traditional trade, giving young people a chance to participate in economic progress.
The Prime Minister of Pakistan, Imran Khan, recently attended an e-commerce convention, which received positive feedback from many social groups. He said numerous steps were being done for the development of the e-commerce sector, focusing on tax, ease of doing business, and freelance concerns.
According to him, the government is working on payments and banking as well as consumer and data protection.
As part of its zero-tax plan for registered freelancers, the SAPM noted. Pakistan is now the world’s third largest digital market, vying with India.
e-Tijarat platform, for which Asian Development Bank is giving financial and technical assistance, he said. To boost e-commerce, a research laboratory and other support were set up. The E-Tijarat platform would assist promote “Made in Pakistan” items in regional and worldwide markets.
On-line transaction processing, electronic data interchange (EDI), and automated data collecting systems are among the sectors he hopes e-commerce would foster.
“The openness of the internet and data processing by local and international e-commerce enterprises has increased the possibility of misuse of personal data,” he stated. So many countries introduced regulations to reduce the danger of data breaches and subsequent misuse.
To develop new employment prospects for the country’s youth, Aoun Abbas Buppi stated the Pakistan Tehreek-e-Insaf (PTI) administration launched its first e-commerce strategy in October 2019.
Aon Abbas says E-Commerce policy helps communities take advantage of this unique possibility.
He added the country’s youth population makes e-commerce a great place to work.
Prime Minister Imran Khan has set us an objective of creating 10 million new jobs through e-commerce.
To increase personnel in this area, he stated that 10,000 new businesses and 10,000 new employees must be created.
The SAPM stated that the country now has 5.5 million small and medium firms that will be linked to the E-Commerce industry to attract more individuals.
Similarly, the Chinese shipment model will operate on this approach to expand the sector.
“We are working with the Federal Board of Revenue on E-commerce tax rationalisation,” he stated.
This sector will be further facilitated and new business prospects will be created in the country, according to the SAPM.
E-commerce is being linked to Silicon Valley, according to Aon Abbas.
To help young from remote places like Balochistan, Gilgit-Baltistan, Sindh and other provinces join the country’s economic might and earn excellent work chances, he asked e-commerce leaders to train the country’s enormous youth population in this sector.
He added e-commerce leaders must now alter the lives of 55% of kids living in rural areas.
These programmes would benefit their country and these young people would benefit us.
He stated that e-commerce was the best tool for empowering young.