LAHORE: Pak-China Joint Chamber of Commerce and Industry (PCJCCI) Monday urged business community of Pakistan to take all possible measures for entering into the era of electronic trade through e-commerce.
The PCJCCI President Shah Faisal Afridi stated here that currently the overall volume of e-commerce in Pakistan was more than $4 billion per annum and it was estimated that in near future, almost 25 percent of traditional business would be converted into internet business.
Afridi elaborated that establishing business through e-commerce was effective due to low cost as billions of buyers and sellers could be connected simultaneously across the world. "E-commerce, if handled well can greatly reduce the costs of a company and achieve better results than the traditional form of business," he said.
According to an authentic estimate, he said, the e-commerce was going to change whole world in future, therefore, Pakistan government should take better initiative to improve required infrastructure to promote e-business. "We must understand that almost 78 percent of e-commerce activity takes place in USA, obviously driven by use of internet in that country. Nevertheless, Pakistan can make good use of this opportunity with proper planning and execution," he mentioned and suggested to focus on domestic e-business before going for global market.
Afridi said that e-commerce was an information technology trend developing fast in the business world, and internationally, the corporate sector with the support of IT industry generated over $400 billion this year.
He called for changing entrepreneurs' perception about e-commerce to build a strong foundation for e-business and, these should be taught about latest and most popular trends of e-commerce such as, business-to-consumers (B2C) and business-to-business (B2B), Business-to-government (B2G) and government-to-citizens (G2C).
The e-commerce, he said, created a cost-efficient marketing opportunity for SMEs, which could not approach targeted audience through traditional medium of advertisement because of financial constraints. Moreover, online shopping was also a new trend in the world and consumers now purchased items of their need online.
The PCJCCI President urged Pakistan government to take concrete measures to formulate necessary policies, laws and processing framework for promoting e-commerce as a formal means of business transactions.
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