Strong-growing Pakistan's E-commerce sector.

Byline: S. KAMAL HAYDER KAZMI

International experts identified that e-commerce has revolutionized the way people shop, offering customers convenience and access to products from the whole world that would otherwise not be obtainable. With its rapid growth, it is said that more firms are investing heavily in technology to make sure their businesses remain competitive and their customers have a reliable experience. Pakistan's growing e-commerce has also been booming based on this global revolution of technology.

The e-commerce sector in Pakistan has achieved significant growth over the past few years, thanks to the increasing internet and smartphone penetration. According to sources, Pakistan's e-commerce sales are projected to stand at $2.1 billion by 2023, up from $1.2 billion in 2018. E-commerce in Pakistan is still in its nascent stages, but it is growing rapidly.

A report from the State Bank of Pakistan says the number of recorded e-commerce merchants grew from 571 in 2015 to 1,516 in 2019. Similarly, the number of e-commerce transactions also grew from 3.4 million in 2015 to 29.7 million in 2019. It is said that various factors are driving the growth of e-commerce.

Firstly, the growing use of smartphones and the internet has made it easier for people to shop online. Our country has 97 million internet users, representing 38.7 percent of the population. Similarly, the number of mobile phone users in Pakistan is expected to stand at 161 million by 2025, up from 113.6 million in 2020.

Secondly, the Covid-19 pandemic has accelerated the growth of e-commerce, as people are opting for online shopping to avoid physical contact. Pakistan Telecommunication Authority (PTA) says there was a 35 percent increase in e-commerce sales during the first wave of the pandemic.

Thirdly, the Government of Pakistan has been taking steps to promote e-commerce. In 2019, the government introduced the E-commerce Policy Framework, which is aimed at creating an enabling environment for the growth of e-commerce.

Experts recorded that the policy includes measures like simplifying the tax system, enhancing the logistics infrastructure and offering training and support to e-commerce entrepreneurs. The experts also identified that in today's world where people cannot live without using the internet E-commerce has become a crucial part of their lives from purchasing a dairy product to buying a ticket with a click of a button without visiting a physical market it is all...