Pakistan Still Lags Behind Other South Asian Countries in Ecommerce
It is quite disturbing for most modern business enterprises in Pakistan to feel limited in terms of providing eCommerce platforms for business in Pakistan. We all know that most businesses rely on online shopping stores in order to succeed. Then why is Pakistan unable to overcome this issue?
Pakistan had seen a growth of 5.79% in its GDP (Gross Domestic Product) between 2017 and 2018. The average GDP is 4.92% between 1952 and 2018. This shows prospects for a lot of growth in the coming years, but amidst all this, Pakistan is still lagging behind South Asian Countries in terms of eCommerce. Online shopping in Pakistan has been quite a challenge because we lack a proper online payment system. Pakistan needs a digital revolution and increase in online shopping stores.
Why China is Taking the Lead
The BRI or Belt and Road Initiative China took is proving to be a very good global development strategy. China is supporting infrastructure development in 152 countries across Asia, Africa, the Middle East, and Europe and in the Americas. This involves using digital technology to make business easier and possible across any distance. Countries with an advanced system for buying online and selling online are reaping the benefits faster.
Pakistan needs to invest in an online buying and selling system or payment system that makes it easier for businesses to conduct transactions in almost real-time.
Online Shopping in Pakistan
We are witnessing an increase in the number of online shopping stores in Pakistan such as Yayvo, Getnow & iShopping which is a sign of acceleration in online shopping trends across the country. However, how aware are people about using this in our country? There is a lot of insecurity and fears about money laundering, which makes it important for Pakistan to find a safer system. That is when we can see more businesses investing in eCommerce sites and see a rise in economic growth.
Online Shopping Stores Need Online Payment Systems
In Pakistan, we don’t have PayPal, and there is no chance of its coming in the near future. This makes it important for our government to create an online payment system that serves as good as PayPal for eCommerce and online shopping sites.
The sooner we can see this development, the sooner Pakistan can join the league of successful online business providers at a national and global level.