Alvi terms e-commerce promotion vital for economy

Online platforms offer huge opportunities for small and medium enterprises

ISLAMABAD:

President Dr Arif Alvi on Monday said promotion of e-commerce was highly essential for strengthening economy of the country as it provided access to distant markets, reduced cost of doing business and created employment opportunities.

He was chairing a meeting on e-commerce to review the action plan pertaining to implementation of the e-commerce policy in the country.

Highlighting the importance of e-commerce, the president said it offered huge opportunities for small and medium enterprises that connected them with Pakistani online markets and international markets through global e-commerce platforms.

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According to a press release, the meeting was attended by Minister for IT and Telecom Syed Aminul Haque, Adviser to PM on Commerce Abdul Razak Dawood, Deputy Governor State Bank of Pakistan Jamil Ahmed, Secretary to the President Tariq Najeeb Najmi, Secretary IT and Telecom Shoaib Ahmad Siddiqui, Additional Secretary Finance Dr Arshad Mahmood, Federal Boared of Revenue Chairman Muhammad Javed Ghani, NITB Chief Executive Officer Syed Shabahat Ali and Ministry of Commerce Joint Secretary Aisha Humaira Moriani.

The meeting was briefed about the e-commerce initiatives and their role in economic development of the country.

It was informed that the country had potential to increase its Gross Domestic Product by $36 billion and create four million jobs by 2025 by using digital financial services.

The participants were also apprised that e-trade in the country had crossed over Rs100 billion.

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In order to promote E-commerce, the meeting underscored the need for tax incentive packages and availability of IT infrastructure and quality of services in the country.

The president asked NITB, FBR, SBP, ministries of IT and commerce to expeditiously complete work on their respective pillars in order to support e-commerce.

Published in The Express Tribune, July 21^st, 2020.