E-Business initiatives in Pakistan rapidly expanding
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ISLAMABAD: (APP) The Association of Chartered Certified Accountants (ACCA) has joined hands with business giant Cheezmall to promote e-business in Pakistan.
ACCA would get engaged more profoundly and help students, affiliate and members to get proper insight of this industry segment.
Pakistan has said e-business in Pakistan is growing at a very fast pace, with 50% of population less than 24 years of age and with over 100 million mobile phone users and government's proactive initiatives for digital payment platforms.
It is a key recipe of growth for e-business. E-commerce in Pakistan is expected to grow from $ 60 million to over $ 1 billion by 2020 which is a very positive indicator, CEO Cheezmall, Aurangzeb Khan.
He said this change shall require an altogether different governance and control environment, without which this growth would not be sustainable for companies and the industry as a whole.
According to the company, Pakistan's consumption expenditure has reached 79 pc of its GDP, demonstrating Pakistani society's potential to spend.
Cheezmall, with its headquarters in Shanghai- China, has now launched its operations in Pakistan.
ACCA official, in his comments said finance professionals have to support this new business environment and work toward learning its dynamic mechanism and prepare themselves accordingly.
This partnership would help generate general awareness of e-business and its dynamics in Pakistan.
The agreement will work towards supporting the eco-system for development of finance talent, work on relevant legislation and policies devise governance framework for e-business environment and raise awareness around finance and audit matters related to e-business environment.
