E-Commerce importance increased manifolds: Razak

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Staff Reporter

Islamabad

The Advisor to the Prime Minister on Commerce and Investment Abdul Razak Dawood said that the importance of e-Commerce has increased manifolds, making it an extremely vital sector for the economy due to the COVID-19 pandemic.
The Advisor to the Prime Minister on Commerce and Investment said this while chairing the 2nd meeting of National e-Commerce Council on Thursday.
All of the nominated members of the Council, including State Bank of Pakistan, Ministry of IT & Telecom, Federal Board of Revenue, Securities and Exchange Commission of Pakistan, National Information Technology Board, Provincial Departments of Industries and Commerce, Provincial Revenue Authorities, Pakistan Post, Federal and Provincial Consumer Rights Commission/Councils, Telecom companies, online marketplaces, Fintech sector representatives, Freelancers, Banking sector and Logistics companies attended the meeting.
The Advisor briefed the participants about the progress achieved in the past months on the e-Commerce Policy, since its approval on 1st October, 2019.
He appreciated the coordinated efforts of public and private sector for the effective implementation of the policy.
Talking to the participants, Razak Dawood underlined that the trend of e-commerce has increased rapidly in the recent years with the development and easy accessibility of the internet.
He stressed the importance of directing the resources towards digital adoption and connecting the SMEs to e-platforms across the globe, while exploring new market access opportunities for them.
Sharing the progress update, State bank of Pakistan informed that the regulatory framework for facilitation of cross border B2C e-Commerce has been developed, which will be adopted after integration with the e-Commerce module to be developed by FBR in WeBoC (web based one customs).