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Wednesday, May 22, 2024

Pakistan establishes first e-commerce university

Prime Minister Imran Khan has given his government a target to create 10 million new jobs through the e-commerce sector.

Special Assistant to the Prime Minister (SAPM) on E-Commerce Senator Aon Abbas Buppi Wednesday said the government has built the first e-commerce university in the country and is pursuing a revolutionary program to provide skilled labor in the sector.

The e-commerce university will start its work by March 2022, which will provide affordable and quality education to the students.

The country needs standard e-commerce university time, he said this while addressing a press conference here.

He said that the government of Pakistan Tehreek-e-Insaf (PTI) has introduced the first e-commerce policy in October 2019, which would create new avenues of employment opportunities for the youth of the country.

Read more: Pakistan Post to capture major chunk of e-commerce deliveries

Aon Abbas said that E-Commerce policy provides communities with a guideline on how they can take advantage of this innovative opportunity.

He said the country currently has more than 50 percent youth population for whom there would be huge job opportunities in the e-commerce sector.

He said that Prime Minister Imran Khan has given us a target to open 10 million new jobs through the e-commerce sector.

He said that 10,000 new companies have to be opened and 10,000 new people have to be trained to create more manpower in this sector.

The SAPM said that at present there are 5.5 million small and medium enterprises in the country which would be linked with this E-Commerce sector to attract more people in this digital business.

Similarly, under the Chinese shipment model, this policy will be worked on to create more space in the sector.

He said that “We are working with the Federal Board of Revenue for tax rationalization for E-commerce trade,” he said.

The SAPM said that Work is also underway on Ease of Doing Business in collaboration with the Securities and Exchange Commission, which will further facilitate this sector and create new business opportunities in the country.

He said the current target is to increase e-commerce trade from $2.5 billion to $5 billion.

Aon Abbas said that a new Equity Investment Policy has been Approved and the e-commerce sector is being linked with Silicon Valley.

He said that at present the global market for e-commerce is $30 trillion, of which Pakistan’s share is very small.

Read more: Pak-China to cooperate more in e-commerce and digital trade: Zhao Lijian

It has $4 trillion in Business to Business and $4 trillion in Business to Companies trade.

He said companies’ trade in e-commerce was only $120 million in 2013 and Which was increased to $364 million in 2021.

He said that at present Pakistan is the third largest digital market in the world and in this “we are competing with India.”

“We don’t have the data, but at the moment Pakistan has a lot of Companies registrations,” he said.

Courtesy: APP