LAHORE: Ecommerce is growing across the world at a rapid pace and expected to touch new peaks this year; however, Pakistan needs a skilled and trained workforce to unveil its real ecommerce potential that could drive the economy, a symposium witnessed on Wednesday.
Talking on the occasion, Yasir Humayun, Punjab minister for Information Technology, said ecommerce in the country had potential to act as a driving force for the economy.
“IT industry in Pakistan is ready to take off, but the real capital is the trained manpower and no one will invest unless we have a skilled workforce,” he said.
Lahore Chamber of Commerce & Industry (LCCI) organized the symposium on ecommerce at its premises, which was attended by Punjab IT minister, LCCI office-bearers, experts from different sectors, and IT personnel.
Humayun said ecommerce used to be a ‘buzz word’ some years back, but has become a must thing for all individuals living in urban and rural areas, adding that IT industry paved the way for inclusive trade and economic development even in tough times of the pandemic. “In 2020, retail ecommerce sales worldwide amounted to $4.28 trillion and e-retail revenues are projected to grow to $5.4 trillion in 2022.”
He was of the view that most of developments taken place in the IT sector during last couple of decades had changed the entire face of daily life in general and the business world in particular. Humayun emphasized that it was the time to take full advantage of high-tech and IT sectors also urged the Lahore chamber to provide a platform on which all stakeholders could come together.
Meanwhile, Mian Nauman Kabir, LCCI president said that ecommerce could boost enterprise competitiveness and increase share of countries like Pakistan in the global trade.
Kabir envisaged that ecommerce could also help in developing entrepreneurs to overcome the usual trade channels and reach a global market since the internet-based enterprises could be operated at very small scale. He mentioned that micro, small and medium enterprises, which use ecommerce platforms, were around five times more likely to export than those in a traditional economy.
He continued that international mega-corporations such as Amazon and Alibaba have entered the Pakistani market creating a competitive environment, which would raise the standard of the local industry and also benefit the consumers.
“It is high time for the private sector representatives to learn and adopt the latest tools and techniques being used around the globe, said kabir, adding that increase in online shopping generates new economy growth and spurs innovation among sellers, getting them to pinpoint what makes their product unique and create a compelling experience that keeps customers coming back. This creates greater incentive for customers to shop online and drives growth for the economy overall, he said.