Pakistan's Digital Economy Boosted due to Coronavirus

Pakistan’s E-commerce and digital economy has received a huge sales boost during the current coronavirus pandemic as physical mobility of shoppers has remained limited...!

|Courtesy by Tribune| 


From past few years_Pakistan has made efforts to expand digitisation of its economy by promoting online businesses in a bid to boost exports and create jobs for young people...!


We have received an overwhelming response..! our data shows that online orders have grown nine times(since March)Chief Marketing Officer at Pakistan’s largest online shopping store observed...!


We are experiencing 100% year-on-year growth in each item,,& this has increased even further since March 2020 due to the coronavirus...!


The State Bank of Pakistan claims that the shift to electronic payments would stimulate consumption & trade_helping the country’s economy by as much as 7%_creating 4 million jobs and boosting GDP by $36 billion by 2025..!


According to data of the Ministry of Commerce..*While the digital industry remains in the infancy stage in Pakistan_a steady rise has been seen in e-commerce transactions as well as in the number of registered e-commerce merchants_it pointed out. Sales of local and international e-commerce merchants in Pakistan almost doubled to Rs40.1 billion in 2018 compared to Rs20.7 billion in 2017..*


These figures do not include all the postpaid and cash-on-delivery transactions, which account for 60% of the total value of e-commerce in Pakistan..!


Pakistan government is also developing an international payment gateway that will be integrated with other online payment platforms like PayPal_aimed at facilitating incoming payments to boost exports and assist freelancers...!


National Information Technology of Pakistan Said that Covid-19 had pushed back the development of the payment gateway but reaffirmed that the organisation will try its best to roll it out as soon as possible...!


Businessmen speculate the encouraging online sales figures will grow further if the government offered tax incentives and ensured regulation for Pakistan’s_E-commerce platforms...!


The footfall on stores and shopping malls has declined up to 80% following the outbreak of coronavirus while the revenue of retail business has fallen to almost 25% in Pakistan...!

#StayHome_StaySafe_SavePakistan 


|Prepared by@RamzanAwan|

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