Pakistan’s first e-commerce portal “eTijarat” was officially inaugurated by Prime Minister Pakistan Imran Khan to enable digital Pakistan and boost I.T sector through e-commerce industry. While speaking to the e-commerce Pakistan convention he declared zero tax policy for Pakistan’s freelancers.
E-Tijarat portal will serve as the main resource for the youth and technopreneur to grow and excel in I.T & e-commerce industry. The portal provides the relevant resources which include business registration, trademark registration, freelancing, startups, consumer protection, ICT infrastructure and connectivity, data protection and investments, logistic companies for streamlined shipping and supply chain services, banks and other fintech organizations aiming to provide fast and hassle free payment solutions for both the buyer and the seller. It actually provides marketplace opportunities for e-commerce business.
According to the official website of e-Tijarat portal, it is a one window information and facilitation platform that gives information on all e-commerce related government regulations, procedures, trends and updates at a single place. The portal also has a digital space that provides access to the private sector to National e-commerce council NeCC to share the challenges they face with respect to government regulations and procedures. Upcoming digital space session is scheduled to be held on 15th March 2022.
The global e-commerce industry was valued at $30 trillion in 2021 whereas the Pakistan e-commerce industry potential was calculated at $4 billion in 2021, which reflects the huge potential that Pakistan has in this sector. Pakistani government aims to provide all-out incentives to I.T sector, e-commerce industry and freelancers to increase country’s technological exports. Records shows that in the fiscal year of 2020-21, Pakistan I.T exports surpassed $2 billion for the first time in the history.
Prime Minister Imran Khan has committed special attention to the IT sector and youth. Senator Aon Abbas Buppi, the PM’s special assistant on e-commerce earlier revealed that the government is planning to establish an e-commerce university given the rising trends of e-commerce both locally and globally. According to him, the government seeks to move 50,000 SMEs to digital platforms and provide financial independence to 1 million young people. He also stated that government is working to increase e-commerce trade volume from $4 billion to $7.5 billion by the end of 2022, and to $9 billion by 2023. Pakistan is witnessing the digital revolution in this current government’s setup. Recently the State Bank of Pakistan (SBP) has announced the establishment of digital banks to make financial services more accessible to users. Officials believe that digital retail banks will be a game-changer for small enterprises. Also, State Bank of Pakistan has lately launched Pakistan’s instant P2P payment system “Raast” which enables end-to-end digital payments among individuals, businesses and government entities. Raast is at the center of digital financial system in Pakistan.
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