E-commerce Policy Board held its first meeting in Islamabad and decided that holistic regulatory framework would be examined in consultation with all stakeholders to promote and ease e-Commerce.
It is pertinent to mention here that in August 2016, Prime Minister Nawaz Sharif had shown displeasure on failure of Commerce Ministry regarding formation of national e-commerce policy. The prime minister had directed to formulate the draft of the policy as soon as possible. He had directed the ministry to complete the project by September 2016 for placement of the draft policy before cabinet for approval.
The commerce ministry had failed to the implement the prime minister’s direction. However, later, a board has recently been constituted by the prime minister to oversee the cross-institutional efforts of creating an e-commerce Policy Framework being coordinated by the Ministry of Commerce.
Finance Minister Ishaq Dar chaired first meeting of e-commerce Policy Board. The minister said that formation of the e-commerce Policy Board is proof of the government’s serious commitment to the promotion of e-Commerce in the country. He highlighted the importance of creating a conducive environment for the growth of e-commerce in the country, including through provision of the requisite infrastructure, and legal and regulatory framework.
The commerce secretary briefed the board on the current status and future prospects of e-commerce globally and in Pakistan. He informed that e-commerce now accounted for nearly 2.6 percent of global GDP. He highlighted that e-commerce is still in its infancy in Pakistan but it is estimated to reach $ 1 billion by 2020 provided the correct regulatory framework and infrastructure is in place.
Commerce Minister Engineer Khurram Dastgir Khan informed the board that e-commerce had become a globally important issue in the World Trade Organisation (WTO). He emphasized that it was extremely important for Pakistan to create an environment in the country which would lead to high growth of SMEs, including e-commerce initiatives.
Minister of State for IT & Telecom Anusha Rahman informed that the Ministry of IT & Telecom is already working on some key areas related to e-Commerce which would assist in unlocking the hidden potential of e-commerce in the country.
The board discussed the way forward to devise a comprehensive e-commerce Policy in the country. A detailed action plan focusing on reforms in several areas affecting e-commerce was discussed. The board approved formulation of five Working Groups on various tasks in the plan, namely Taxation, Payment Infrastructure, Regulatory Framework, Logistics, and E-Commerce, WTO & Development, with representatives from both the public and private sectors. The board also directed that the holistic regulatory framework may be examined in consultation with all stakeholders to promote and ease e-Commerce.
The finance minister thanked all participants and encouraged all members of the board to work on a fast-track basis to ensure the success of this initiative. The meeting was also attended by the State Bank of Pakistan governor, SECP chairman, FBR chairman, IT secretary, Communications secretary, private sector representatives and senior officials of the Ministry of Finance, Ministry of Commerce and SBP.
Source: http://nation.com.pk/business/22-Dec-2016/govt-keen-to-promote-e-commerce-dar