Ayesha Saba

Pakistan needs to fully exploit its e-commerce potential by entering into joint ventures with China, experts said.“The digital connection, along with the China-Pakistan Economic Corridor (CPEC), will positively contribute to the development of the overall economies of both the countries,” Ehtesham Wajid, Coordinator WORC incubation program, told WealthPK. “In the modern era of technology, e-commerce is the fastest-growing sector and Pakistan is the 46th largest e-commerce market, progressing rapidly,” he noted.

Ehtesham said Pakistan has witnessed a boom in the digital economy through e-commerce, and there is an increasing trend among the people who use the internet and make an online purchase and sale of goods and services, especially after the coronavirus pandemic. “To capitalise on Pakistan’s untapped e-commerce potential, Alibaba, a leading online marketplace company, has undertaken a number of measures within the country. The largest e-commerce network in Pakistan, Enablers, has entered into a global partnership with Alibaba for the establishment of an efficient e-commerce supply chain. Pakistan’s e-commerce business will benefit greatly from this,” he said.

“As the success of a business depends on the quality of its products, Alibaba and Enablers are teaching young people about sourcing and how to select the most suitable supplier,” he said. According to the company profile, Enablers is a platform dedicated to supporting entrepreneurs and their e-commerce businesses. Its vision is to build up an entrepreneurial culture in Pakistan, strengthen the way local businesses work, and improve the growth of Pakistan’s economy, and expand e-commerce business globally.

“The company’s objective is to assist in the establishment of more than 200,000 e-commerce businesses, generate 2 million new jobs in Pakistan, and increase exports to the global e-commerce marketplaces,” Ehtesham mentioned. “The Pakistan Vision 2025 and the Digital Pakistan Policy have set the target that the e-commerce industry’s size will reach $20 billion by 2025,” he added.

Dr Muhammad Mukhtar, Vice Chancellor of National Skills University, said while talking to WealthPK that with a population of 229.5 million people, mostly consisting of a young population and a burgeoning middle class, Pakistan has the makings of a strong startup environment. “The country offers a unique climate in which the youth is brimming with potential, enthusiasm, and ideas and are becoming increasingly engaged in the startup culture,” he added.

Dr Mukhtar said that owing to the recent expansions in this sector, Pakistan is now a country where anyone can start a small business with ease and also many people are doing this by starting a business of selling clothing, homemade food items, kitchen items and many other things online. “Small businesses have created their websites and social media accounts where they easily sell and purchase their items and successfully achieve their goals,” he added.

Credit: Independent News Pakistan-WealthPk