Govt focused on creating startup-friendly ecosystem to unleash e-commerce potential: PM

Prime Minister Imran Khan chairing a meeting of Young Entrepreneurs/Startups in Islamabad on19 January 2022

ISLAMABAD, Jan 19 (APP): Prime Minister Imran Khan Wednesday said that the government was focused on creating a startup-friendly ecosystem to unleash the huge potential of e-commerce in the country.

“The future of business in the world is technology-driven e-commerce platforms. Cognizant of its importance, we are working to clear all kinds of impediments hindering its growth,” the prime minister said chairing a meeting of Young Entrepreneurs/Startups.

He appreciated the role of startups in generating employment opportunities for the country’s huge tech-savvy young population, which was the world’s second largest.

He vowed to fully facilitate and back them to materialise their true growth potential.

The prime minister directed the authorities concerned to take effective measures to address concerns of startups relating to capital gains tax, digital signatures, intellectual property rights and attracting foreign direct investment.

Earlier, the prime minister was briefed that e-commerce was growing at an unprecedented speed. Valued at $1.5 billion, Pakistani startups raised an investment of $375 million during 2021.

Major startups were in the fields of e-commerce, fintech, logistics and health technology.

The meeting was attended by Advisor on Commerce Abdul Razzak Dawood, SAPM on Political Communication Dr Shehbaz Gill, Chairman of Board of Investment Azfar Ahsan, Chairman of Federal Board of Revenue Dr Muhammad Ashfaq Ahmed, Chairman of Special Technology Zone Authority Amir Hashmi and other relevant senior officers.