Pakistan establishes first university of e-commerce

The Prime Minister’s Special Assistant (SAPM) on e-commerce Senator Aon Abbas Buppi said on Wednesday that the government had built the country’s first e-commerce university and was pursuing a revolutionary program to provide a skilled workforce in the area.

The University of E-Commerce will start its work by March 2022, which will provide affordable and quality education for students.

The country needs standard academic time for e-commerce, he told a press conference here.

He said Pakistan’s Tehreek-e-Insaf (PTI) government introduced the first e-commerce policy in October 2019, which would create new employment opportunities for the country’s youth.

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Aon Abbas said the e-commerce policy provides communities with a guideline on how they can take advantage of this innovative opportunity.

He said that the country currently has more than 50% of young people for whom there are said to be huge employment opportunities in the e-commerce sector.

He said Prime Minister Imran Khan has given us the goal of opening 10 million new jobs in the e-commerce sector.

He said 10,000 new businesses need to be opened and 10,000 new people need to be trained to create more workforce in this industry.

SAPM said that there are currently 5.5 million small and medium-sized businesses in the country that would be linked to this e-commerce sector to attract more people into this digital business.

Likewise, in the Chinese model of expeditions, this policy will be worked to create more space in the sector.

He said that “we are working with the Federal Board of Revenue for the tax rationalization of e-commerce,” he said.

SAPM said work is also underway on making it easier to do business in conjunction with the Securities and Exchange Commission, which will further facilitate this industry and create new business opportunities in the country.

He said the current goal is to increase e-commerce from $ 2.5 billion to $ 5 billion.

Aon Abbas said that a new equity investment policy has been approved and the e-commerce industry is tied to Silicon Valley.

He said that at present, the global e-commerce market is $ 30 trillion, of which Pakistan’s share is very small.

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It has $ 4 trillion in business-to-business and $ 4 trillion in business-to-business.

He said business e-commerce was only $ 120 million in 2013, and it increased to $ 364 million in 2021.

He said that Pakistan is currently the third largest digital market in the world and “we are competing with India”.

“We don’t have the data, but at the moment Pakistan has a lot of company records,” he said.

Courtesy: APP

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