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SBP and FBR to Develop a Platform to Internationalize E-Commerce in Pakistan

Morpheus

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SBP and FBR to Develop a Platform to Internationalize E-Commerce in Pakistan

Posted 2 seconds ago by ProPK Staff

E-commerce in pakistan


State Bank of Pakistan (SBP) and Federal Board of Revenue (FBR) are working to introduce a platform that will facilitate Pakistani traders to exports their products on global e-commerce platforms such as Amazon, Alibaba, and eBay.

Going forward, the cross-border B2C e-commerce regulatory framework developed by the SBP and the Web-Based One Customs (WeBOC) e-commerce module that the FBR is developing, would help facilitate online sales of exporting firms by allowing hassle-free documentation and shipment of export orders, a report published by the SBP stated.


Recently, the Ministry of Commerce has facilitated enlisting more than thirty exporters on the world’s leading online marketplace, Amazon.com, on a trial basis.
Successful completion of the test-run would provide an opportunity for more domestic firms to sell via Amazon and expand their outreach to global markets.

This could potentially open a new avenue for Pakistan to increase its exports and create new employment opportunities locally, the report added.

Pakistani authorities have proactively worked on the digitization front for the past half-decade or so. The country approved its first-ever e-commerce policy in 2019.

The policy aims to provide an enabling environment to private businesses, create new employment opportunities for youth and women, and provide a framework to the government to regulate the e-commerce sector in the public interest.
To track the implementation of the policy and to facilitate e-commerce businesses, a National E-commerce Council (NEEC) has also been established.

The Council’s main functions are to monitor and support the advancement of e-commerce in the private sector, foster innovation in the implementation of the necessary programs and initiatives, create awareness of the importance of e-commerce towards the overall growth in the economy, and provide relevant feedback and recommendations to the government.

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