PRGMEA hails Pakistan Customs e-commerce clearance facility.

LAHORE -- Pakistan Customs efforts to develop an e-commerce automated clearance facility in collaboration with the State Bank are commendable, said Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) on Monday adding the move will prove to be very effective for SMEs, helping them promote their business, especially in era of postcorona economic slowdown.

Speaking during an awareness programme, Central Chairman PRGMEA Sohail A. Sheikh and Chief Coordinator Ijaz Khokhar, briefed the members about e-commerce clearance facility developed recently by the Customs department of the Federal Board of Revenue. Sohail Sheikh said that in post-pandemic age when e-commerce is transforming the entire trade globally government's this facilitation is the right step in the right direction. The government will also launch a digital market policy in this regard after consultation with the real stakeholders so that B2B and B2C business can be catered, he added. Central Chairman PRGMEA said that estimated e-commerce sales value, which includes busine ss-to-busine ss (B2B) and business-toconsumer (B2C) sales, is equivalent to 30% of global gross domestic product. He said that the coronavirus crisis has accelerated the uptake of digital solutions, tools and services.

Quoting a World Bank report, he added that the Business-to-Consumer (B2C) transactions grew from $1.5 trillion in 2014 to $2.3 trillion in 2017 and now projected to grow to $4.88 trillion in 2021. Sohail Sheikh observed that the value-added garment...

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