LAIBA BABAR

ISLAMABAD:  Finance Minister Senator Muhammad Ishaq Dar on Friday has pointed out that E-Commerce Sector was doubling in size every year and was projected to transcend US $1 billion in 2020.

Talking to the delegation of Alibaba Group Minister stated that E-Commerce was a growing business in Pakistan and had great potential to progress. 

He further acknowledged the services of Jack Ma, Chairman of Alibaba Group and said he had established the Group as one of the top leading E-Commerce companies of the world.

The increasing role of E-Commerce in global trade is an effective means of promoting small business exports, entrepreneurship and exports diversification.

Dar, noted that  Pakistan had commensurated ICT infrastructure in place of facilitating fast developing E-Commerce sector.

He said that there was exponential growth in mobile broadband access to nearly 26 million people.

Minister reiterated that 3G and 4G technologies had been introduced here and more than 11 percent citizens were using mobile phones for financial transactions.

Dar also remarked that Pakistan was the regional leader in mobile banking transactions in South Asia.

Finance Minister suggested Alibaba Group  to invest in Pakistan’s digital trade industry. 

Members of the visiting delegation were impressed by the progress Pakistan made in the field of IT, Telecom and Broad-band penetration.

They maintained  that E-Commerce market in Pakistan presented outstanding opportunities for entrepreneurs and companies.

Moreover, they expressed their happiness to see great headway being made in the realm of digitization in Pakistan.