Aon Abbas Buppi, the PM’s Special Assistant on E-Commerce, claimed that e-commerce was greater than traditional trade and that young people could use it to contribute to economic development.
Pakistan is now the world’s third largest digital market, and “we compete with regional and worldwide businesses in the E-Commerce sector”, SAPM told APP.
HE SAID THE GOVERNMENT HAD IMPLEMENTED THE FIRST TAX-FREE approach for registered A recent E-Commerce convention, attended by Prime Minister Imran Khan, received a positive response from many social groups, he noted.
Aon stated that different steps were being launched to grow the E-Commerce sector, focusing on tax, ease of doing business, and freelance difficulties.
Important topics being addressed on include payments and banking; taxation; company registration; freelancers and startups; market excess; logistics and shipping; market access; and consumer and data security.
In response to a query, he stated that E-Commerce commerce would increase to $ 9.1 billion by 2020.
He said Pakistan had a growing E-Commerce business with the potential to dominate regional markets and become a global player.
He noted the country’s E-Commerce market had only $4 billion in revenue, significantly less than its regional competitors.
According to Aon Abbas, expanding E-Commerce trade in Pakistan can help balance the trade deficit and boost the economy. ADB’s financial and technical support for the e-Tijarat portal overcame challenges linked to corporations and individual data in E-Commerce transaction. To encourage e-commerce, he noted, research facilities and other support are being set up.
The E-Tijarat platform will help promote “Made in Pakistan” items in regional and worldwide markets.
On-line transaction processing, electronic data interchange (EDI), and automated data collection technologies are among the sectors he hopes E-Commerce would foster.
“The openness of the internet and data processing by local and foreign E-Commerce corporations has increased the possibility of misuse of personal data of its inhabitants,” he stated.
So many countries introduced regulations to reduce the danger of data breaches and subsequent misuse.
PTI government issued first E-Commerce policy in October 2019 which will offer new avenues of employment for the country’s young, according to Aoun. He stated that the E-Commerce policy guided communities on how to take advantage of this creative possibility.
As part of this, the SAPM announced a new Equity Investment Policy had been authorised, and that the E-Commerce industry was being linked to
To help youth from remote places like Balochistan, Gilgit-Baltistan, Sindh and other provinces become part of the country’s economic might and earn excellent work chances, he asked E-Commerce leaders to come forward and train them.
He stated E-commerce leaders must now alter the lives of 55% of the country’s youth living in rural areas.
These programmes would benefit their country and these young people would benefit us.
He stated the government’s top objective was to empower young, and E-Commerce was the best vehicle for that.
He stated the country has over 50% youth population, which meant significant job potential in E-Commerce.
He stated the Prime Minister had set a goal of creating 10 million new employment through e-commerce. To increase personnel in this sector, he stated that 10,000 new enterprises 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.
The SAPM said it was also working with the Securities and Exchange Commission on Ease of Doing Business, which would help the sector and open up new business prospects.
According to him, the Federal Board of Revenue is working on reducing E-commerce taxes.
