Pakistan Develops Nationwide Ecommerce Policy

Pakistan is developing a new nationwide policy to attract foreign investment in its ecommerce market. The new policy has been developed by The State Bank of Pakistan, and the Ministry of Commerce, in the hope that it will help establish a more mature digital market. The bank's governor, Ashraf Mahmood Wathra, said that the plans will build an “ecosystem for [the] ecommerce market and also… encourage local trade and foreign investments in the country”. It has also been urged that banks in the country lower the costs of digital transfers, in order to boost mobile ecommerce. Wathra added that even though there were 16 million mobile wallets in Pakistan, most were inactive. It was also announced that the Pakistan Telecommunication Authority would now be launching more digital payment services in order to ensure that the country continued to invest in technology.