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Daily Archives: December 6, 2017

The size of e-commerce market, one of the most important drivers of a digital Pakistan, is expected to grow up to US $ 1 billion by 2020 which falls between US $ 70-150 million. The regulations regarding Framework for Payment System Operators (PSO) and Payment Service Providers (PSP) have been devised and approved by State Bank of Pakistan (SBP) while development of E-commerce Policy Framework is also under process to cater to all elements of user, merchant trust with dispute resolution and remedial mechanisms. Annual report-2017 of Pakistan Telecommunication Authority has revealed that on directions of Prime Minister, Ministry of Commerce has formulated “E-Commerce Policy Board” to monitor progress and ensure coordinated cross institutional efforts for development of e-Commerce in Pakistan. The report said in private sector, entrepreneurs have launched e-commerce initiatives for consumers (B2C) that have been success stories such as,, The most important element of the E-commerce ecosystem is Payment Gateway that will enable entry of credible international players in E-commerce ecosystem of Pakistan and will resolve longstanding barrier to growth of Pakistani E-commerce market. The recent policy and regulatory development have paved the way for credible international players to enter into Pakistan’s E-Commerce market. World’s largest E-commerce company, Alibaba, has shown its interest in Pakistani market and signed a MoU with the Trade Development Authority of Pakistan to bring small and medium enterprise in realm of E-commerce platform. Engagements with Alibaba can transform reach of Pakistani products to international markets and help promote E-commerce and financial services in Pakistan. The report said Pakistan is generally a cash driven economy as number of debit/credit card holders is small and m-wallet accounts are also very low due to which more than 95 per cent of the e-commerce transactions are done by Cash on Delivery system. Pakistan is also making good progress on Business to Business (B2B) front as software industry aims to achieve the goal of US $ 5 billion export mark by year 2020. Furthermore, the IT industry has various medium-sized IT firms earning nearly US $ 530 million, mainly in software development and service out-sourcing. However, Pakistan’s share in the global IT sales is just US $ 2.8 billion out of global US $ 3.2 trillion global market. Consumer buying trend in Pakistan is not just limited to buying products online, there are also websites for cars, property and travel which shows that consumers in Pakistan are using internet to experience a wide range of economic activities. Some of local portals have emerged as leading online businesses in Pakistan. The auto portal PakWheels has emerged as the leading online car buying and selling website in Pakistan. It has reached a listing of over 160,000 cars and over 24,000 motorcycles and is accessed by more than 100,000 unique visitors every day. is the leading online real estate database that connects real estate dealers, developers, estate agencies with general buyers, sellers and renters in Pakistan. Food Panda, Pakistan’s leading food delivery app, estimates that it has generated a staggering one billion rupees in additional sales for the restaurant industry during the last year. enjoys an exalted standard as Pakistan’s leading job website with plenty of nationwide vacancies advertised each day. is the largest on-line shopping mall, which provides platform to multiple vendors and one-stop shop to consumers. All leading brands for fashion, food, accessories etc. are also offering online shopping facility to their customers. These portals are now also providing mobile and online solutions for payments. However, it is imperative that the Government and private sector enable safe, reliable and unrestricted environment for the consumers for E-commerce activities. The success of such online ventures has made the E-commerce market of Pakistan a lucrative market for foreign investment in the digital world. recently managed to secure an investment of US$ 55 million for its operations in Pakistan, Bangladesh and Myanmar from Asia Pacific Internet Group (APACIG) and Commonwealth Development Corporation Group, United Kingdom. raised US$ 29 million in two rounds of international funding from Catch Group and Frontier Digital Ventures. Careem has raised an investment of US$ 60 million from Abraaj Group (Abraaj) as lead investor for its operations in Pakistan and MENA region while raised US$ 6.5 million in a Series C funding round with VostokNafta and Piton Capital Lead Investment as the main investors. Recent Articles Accountability court declares Hassan, Hussain Nawaz absconders in NAB references US Defence Secretary meets PM Abbasi, discusses bilateral ties, regional security Should welcome new talent instead of blocking their ways: Sana Islamabad: International Meena Bazaar showcases global cultural diversity Latest Videos China launches new high speed train Dog gives crawling lesson to cute baby… Mercury drops to minus 10 degree Celsius in a… How many people in tomorrow’s PPP Jalsa… Guest sings melodious song in Mazaaq Raat… Programs Dunya Blog Disappearing ‘Walls of Kindness’ A year ago I escaped death at Regent Plaza Hotel. 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In bid to fortify security for digital transactions in the wake of skimming incidences, State Bank of Pakistan (SBP) has issued regulations for security of automatic teller machines (ATMs) and internet banking. Under new SOPs, banks have been compelled to craft comprehensive framework for risk assistance, implementation of controls and …

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Rupee strengthens in face of Dollar in open market

The Rupee has become powerful in the face of dollar in the open market in the first business week due to issuance of bonds in the market with foreign investors showing faith in Pakistan’s economy. The dollar in reference to Rupee has decreased by 40 Paisas, with one dollar falling …

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Pakistan, Hong Kong ratify tax agreement

Pakistan and Hong Kong SAR on Monday ratified the agreement on the Avoidance of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes on Income. The agreement was signed on February 17, 2017 after negotiations spreading over six years. The tax pact will come into force from November …

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Rs 10m stolen from 559 bank accounts in ATM fraud

Rs 10 million have been stolen from 559 bank accounts of a private bank in ATM fraud. According to the details, 559 Bank accounts of a private bank were hacked through ATM and 10 million Rupees were stolen. The Federal Investigation Agency (FIA) is to launch probe in the fraud …

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France’s king of rock Johnny Hallyday dies aged 74

While he was never taken seriously abroad, Hallyday broke from France’s classic “chanson” tradition in the late 1950s, selling more than 100 million albums and headlining 50 major tours. Born on June 15 1943, he attempted suicide in 1966, collapsed on stage in 1986 and married five times, twice to …

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