SBP facilitates B2C e-commerce exports

Central bank says this will help small entrepreneurs, exporters

The State Bank of Pakistan (SBP) has issued a regulatory framework to facilitate business-to-consumer (B2C) e-commerce exports from Pakistan.

Under the new framework, the mandatory requirement of ‘export’ (E) form has been eliminated and now an exporter can ship goods of up to $5,000 per consignment without the requirement of E form, stated a statement issued by the SBP on Wednesday.

According to the central bank, this step would facilitate export of goods in small quantities directly to the consumers. “This will also help small entrepreneurs and exporters, who typically export varied goods in small quantities and find it cumbersome to fulfill the detailed requirements of E form that is mainly designed for bulk exports,” it said.

Lately, the emerging trends in global consumer marketplaces have seen a major shift from traditional markets to e-commerce platforms due to the advent of new technologies, it pointed out.

A further surge in the trend was witnessed particularly during the global lockdown imposed to contain the Covid-19 pandemic, it said.

According to the SBP, the move is aimed at improving competitiveness and digital connectivity of Pakistani businesses with the global market during the development phase of e-commerce policy.

Published in The Express Tribune, December 3^rd, 2020.

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