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E-commerce industry emerging in Pakistan

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E-commerce industry emerging in Pakistan Image: shutterstock

LAHORE: E-commerce could play a vital role in boosting enterprise competitiveness and increase their share in global trade, an official said on Wednesday.

“E-commerce is growing at a fast pace worldwide and [is] expected to touch new peaks during the ongoing year. It is encouraging to see that the e-commerce industry is emerging rapidly in Pakistan,” speakers at a seminar on e-commerce at Lahore Chamber of Commerce and Industry (LCCI) said.

“There is [a] need of giving more attention to e-commerce as it has the potential to act as [a] driving force for the economy”, they said.

Minister for Information Technology Yasir Humayun, LCCI president Mian Nauman Kabir, senior vice president Mian Rehman Aziz Chan, vice president Haris Ateeq and experts from different sectors spoke on the occasion.

Humayun said, “The real capital in IT industry is the trained manpower. No one will invest unless we have a skilled workforce. It is time to take full advantage of technology,” adding that the IT industry in Pakistan was ready to take off, and LCCI should provide a platform to gather all stakeholders.

LCCI president said, “E-commerce can change [the] destiny of the country as it has become [a] trillion dollars industry. In 2020, retail e-commerce sales worldwide amounted to $4.28 trillion. E-retail revenues are projected to grow to $5.4 trillion in 2022.”

“E-commerce used to be a buzz word a while ago, but now it has become [a] must thing for all the individuals living in urban and the surrounding areas. Its emergence has paved the way for inclusive trade and economic development even in the tough times of pandemic,” he added.

E-commerce could help entrepreneurs reach the global market, “Studies show that small and medium enterprises that use e-commerce platforms are likely to export five times more than those in the traditional economy. As international mega-corporations like Amazon and Alibaba have entered the Pakistani market, there is potential for entry of other such international entities,” Kabir said.

“This will create a competitive environment which will raise the standard of local industry and also benefit the consumers. It is high time for the private sector to learn and adopt the latest tools and techniques being used around the globe,” he added.

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