E-commerce in Pakistan has a huge potential for creating 2 million jobs and boosting the country’s Gross Domestic Product (GDP) up to the level of $40 billion in the next couple of years.
This was stated by the Rawalpindi Chamber of Commerce and Industry (RCCI), President Saboor Malik.
He stated that transformation is required to promote the Information, Communications, and Technology sectors to reposition Pakistan in the digital economy.
The Rawalpindi Chamber of Commerce and Industry (RCCI) President Saboor Malik has urged the government of Pakistan to adopt new dimensions of the economy as the Digital platform has been rapidly growing around the world and countries like Pakistan are still far behind in this race.
The federal cabinet had already approved the E-commerce policy for promoting the digital culture and paperless trade to help enhance the trade volume. More than 66 percent of payments for e-shopping are being made as Cash on Delivery (COD) which does not reflect the true sense of digital platform, he added.
RCCI President remarked that Pakistan has huge participation in the global Mobile market, with over 160 million mobile phone subscribers and around 150 million internet users.
Digital transactions are increasing rapidly and have already reached 20 percent of overall transactions in the developed economies. Digitalization will have a serious impact on jobs transformation, he cautioned.
He suggested that the government must overhaul the whole banking infrastructure and encourage businesses, retailers, petrol pumps, PIA, Railways ticketing, superstores, schools and colleges to introduce payment gateways and banks should offer credit cards to businessmen.