A brand new E-commerce policy will be implemented states Abdul Razak Dawood, Advisor to Prime Minister on Trade and Investment. In terms of technical support, that will be provided by The Asian Development Bank (ADB). Moreover, brand encourage & acquisition and value added export of high quality products will be done through the new State Bank of Pakistan (SBP) policy. Earlier, revisions were done in chapter 20 of the Foreign Exchange Manual to offer support to startups, fintechs, and exports by the SBP.
National e-Commerce Council (NeCC) fourth meeting was arranged at the commerce ministry. As per details, a number of issues relating to cross-border e-commerce, tax harmonization, incentives for the upcoming budget, and Investment policy were discussed with the private and public stakeholders.
“The new policy for equity investment abroad will attract foreign direct investment through the establishment of holding companies by Pakistani fintech and startups; support exports by facilitating exporters to establish subsidiaries or branch offices outside Pakistan; and, allow resident Pakistanis to acquire sweat equity, amongst other changes to the Foreign Exchange (FX) regulations. It is encouraging to note that NeCC is emerging as an effective mechanism for public-private dialogue for effective policy implementation”, says Abdul Razak Dawood
