PTI government prepares E Commerce policy framework for industry

PTI government prepares E Commerce policy framework for industry

ISLAMABAD - The government has prepared a draft e-commerce policy framework to pave way for holistic growth of e-commerce in the country.

It is hoped that, Pakistan’s e-commerce sector grows exponentially to claim a substantial share in global trade, which in turn will create employment opportunities and generate more revenues.

As per draft policy framework document prepared by Commerce Division, improving digital connectivity is reshaping consumer behaviour, which is increasingly tilted in favour of convenience, cost savings, and customized retail experiences. Pakistan is among the economies where digitization is triggering changes in some components of the service sector.

The shift is most prominent in areas like e-commerce, fintech and e-government, where new ventures and approaches to deliver services are picking.

Listing the goals, the document further revealed that it would increase e-commerce industry’s growth to make the area one of the key drivers of Pakistan’s economy.

The other goal is to streamline regulatory framework for e-commerce businesses in Pakistan, to contribute achieving higher export growth through enhanced activities from e-commerce platforms, to promote small e-businesses and create employment opportunities through digital connectivity for empowering youth, especially in remote areas.

As per details, in 2017-18, the number of registered e-commerce merchants was 496 which reached 1,094 by year-end and was around 1,242 by first quarter of 2018-19.

E-commerce transactions processed by these merchants are also increasing proportionately.

Pakistan’s e-commerce industry is emerging rapidly and has the potential to strengthen the country’s economy by creating more job opportunities, linking remote areas to the mainstream, development of small and medium enterprises and finally enhancing exports through online platforms.