ANL 34.10 Decreased By ▼ -1.21 (-3.43%)
ASC 14.40 Decreased By ▼ -0.35 (-2.37%)
ASL 25.50 Decreased By ▼ -0.50 (-1.92%)
AVN 86.55 Decreased By ▼ -2.55 (-2.86%)
BOP 7.71 Decreased By ▼ -0.06 (-0.77%)
BYCO 10.23 Increased By ▲ 0.18 (1.79%)
DGKC 122.00 Decreased By ▼ -0.65 (-0.53%)
EPCL 56.60 Decreased By ▼ -1.60 (-2.75%)
FCCL 23.75 Decreased By ▼ -0.13 (-0.54%)
FFBL 27.95 Decreased By ▼ -0.80 (-2.78%)
FFL 15.15 Decreased By ▼ -0.48 (-3.07%)
HASCOL 9.36 Decreased By ▼ -0.24 (-2.5%)
HUBC 77.87 Decreased By ▼ -1.27 (-1.6%)
HUMNL 6.30 Decreased By ▼ -0.11 (-1.72%)
JSCL 19.85 Decreased By ▼ -0.95 (-4.57%)
KAPCO 39.45 Decreased By ▼ -0.45 (-1.13%)
KEL 3.78 No Change ▼ 0.00 (0%)
LOTCHEM 15.95 Decreased By ▼ -0.65 (-3.92%)
MLCF 46.40 Increased By ▲ 0.40 (0.87%)
PAEL 34.65 Decreased By ▼ -0.91 (-2.56%)
PIBTL 10.19 Decreased By ▼ -0.15 (-1.45%)
POWER 9.13 Decreased By ▼ -0.15 (-1.62%)
PPL 85.00 Decreased By ▼ -0.90 (-1.05%)
PRL 24.05 Decreased By ▼ -0.67 (-2.71%)
PTC 9.61 Decreased By ▼ -0.29 (-2.93%)
SILK 1.40 Increased By ▲ 0.14 (11.11%)
SNGP 41.23 Decreased By ▼ -0.40 (-0.96%)
TRG 153.10 Decreased By ▼ -12.00 (-7.27%)
UNITY 30.65 Increased By ▲ 0.25 (0.82%)
WTL 1.69 Increased By ▲ 0.13 (8.33%)
BR100 4,822 Decreased By ▼ -52.4 (-1.08%)
BR30 25,139 Decreased By ▼ -561.69 (-2.19%)
KSE100 44,914 Decreased By ▼ -392.06 (-0.87%)
KSE30 18,363 Decreased By ▼ -174.88 (-0.94%)

Coronavirus
VERY HIGH
Pakistan Deaths
16,316
7324hr
Pakistan Cases
761,437
515224hr
Sindh
272,729
Punjab
270,338
Balochistan
20,940
Islamabad
70,079
KPK
106,500

E-Payment Moving to a broad-based electronic payments regime offers the developing countries an antidote to issues like financial exclusion, rampant waste and corruption in states social and institutional cash transfers and the incidence of hidden or undocumented economy. The latest Government E-Payments Adoption Ranking (GEAR) released by the Economist Intelligence Unit (EIU) highlights just that. The study has aimed to measure the extent to which countries provide key government payment services on electronic platforms and the underlying factors that affect government e-payments adoption. The 2011 GEAR included 62 countries, spanning 6 continents, representing approximately 81 percent of global population and 94 percent of global GDP. The countries have been ranked across 7 categories and 37 indicators. Pakistan is tied with Indonesia at the 47th spot among the 62 countries studied by the EIU. The US, the UK and Norway top the list owing to their comprehensive e-payments landscape, strong policies and developed infrastructure. Nigeria, Uganda and Ukraine are on the bottom of the list, indicating inaction in e-payments adoption. The study reveals a healthy correlation of rankings with high GDP per capita. The study links the range and quality of government payment services to a countrys technological infrastructure, enabling policies and strength of social and economic factors. In fact, it equates an effective and inclusive e-payments system as the core of the "transformational approach" to government. However, just the prevalence of strong technological infrastructure wouldn cut it; connectivity between government, citizens and businesses is cited as crucial for adoption. "Submitting a tax return online, swiping an electronic card to pay for a bus journey or even, perhaps, receiving government health and/or social benefits directly in a bank account are now a way of life in many countries. The ability of governments to offer these services via electronic platforms benefits all parties in the form of reduced costs and increased access," notes the report. A detailed analysis of Pakistans GEAR profile is revealing. The country performs well on certain indicators such as income tax payments and refunds, company registration, and automotive tolls and fines. Pakistan is leading the global average on 10 out of 37 indicators, owing primarily to the policy-level commitment and automation in government organisations like SECP, FBR and SBP. However, the country fares poorly on indicators dealing with the prevalence of e-payment solutions in social security contributions and public transit payments, deployed technological infrastructure, and business and consumer preference for e-transactions. The ubiquity of e-payments may be a distant dream in Pakistan, but public sectors commitment and private sectors interest can do wonders together. The role of the government is important, vis-à-vis issues such as integration of the informal economy and security of the online transactions. The much-needed critical mass and ecosystem can be created as the branchless, mobile and online banking platforms widen their outreach and more automation for payments at the enterprise and consumer touch points can also be achieved.

=====================================================================================
2011 Government E-Payments Adoption Rankings
=====================================================================================
            Citizen      Govt.  Business Govt. to   Infrastructur  Economic &  Policy
            to Govt.  to Citize to Govt.  Business                  Social    Context
                                                                    context
=====================================================================================
China          50        35        38        33          38           43           19
Indonesia      50        40        53        44          37           49           19
India          41        29        43        30          47           54           19
Malaysia       19        30        33        30          20           22           19
Pakistan       47        35        33        33          58           61           45
Thailand       47        35        45        41          39           46           45
=====================================================================================

Source: GEAR 2011, EIU