Pakistani prime minister orders formulating ‘robust policy’ on e-commerce

ISLAMABAD: Pakistani Prime Minister Imran Khan on Wednesday directed his special adviser on e-commerce to formulate a “robust policy” to govern the industry and create new jobs and ease of doing business for young people.
Pakistan has seen more money flow into its nascent technology sector during 2021 than in the previous six years combined. Many global venture capital firms have invested in Pakistan for the first time in the current wave, including Kleiner Perkins, an early investor in Google and Amazon.com Inc.
Investments recently crossed $300 million after two e-commerce companies raised fresh funds.
Bookme, the largest online travel and ticketing platform in the country, raised $7.5 million in its Series A round, according to its founder Faizan Aslam. Bagallery, a beauty and fashion startup, separately raised $4.5 million in a similar round, co-founder Salman Sattar said. Both rounds were co-led by Zayn Capital, Lakson Venture Capital and Hayaat Global.
“Special Assistant to Prime Minister on E-Commerce Senator Aon Abbas Buppi Wednesday called on Prime Minister Imran Khan,” the prime minister office said in a statement. “During the meeting, they discussed the establishment of an e-commerce university as well as matters related to e-commerce. Moreover, they also deliberated over the holding of a freelancer’s conference.”
Buppi told the prime minister about the first e-commerce university being established in Pakistan.
“The prime minister directed the SAPM to formulate a robust policy on e-commerce and besides creating new business opportunities for the youth and ease out the processes for them,” the statement said.
Pakistan’s e-commerce industry is just picking up with online retail accounting for about 2 percent of gross domestic product, compared with 20 percent in Indonesia. Alibaba Group Holding Ltd.’s Daraz Group, the largest e-commerce company in Pakistan, expects to double its retail volume every year over the next five years, sustaining the pace of the past four years, Bloomberg has reported.