Razak phrases e-commerce promoter for raising $ 6.5 million
Pakistan Post to attain major chunk of e-commerce deliveries
ISLAMABAD: Adviser to Prime Minister for Commerce and Investment, Abdul Razak Dawood on Tuesday appreciated e-commerce promoter ‘Bazaar Technologies’ on successfully raising $ 6.5 million, in what was now being termed as one of the region’s larger seed rounds.
“This is impressive considering the fact that the start-up was founded just 8-months ago by two youngsters at Karachi for digitizing of the traditional retail sector in Pakistan,” the adviser said this on his official twitter account.
“I have always believed in the entrepreneurship of our youth and this speaks volumes about their abilities” he said.
The adviser said “I wish them success and urge our young entrepreneurs to emulate this as with a large population base, Pakistan is one of the largest potential e-commerce markets in the world.”
New initiative of e-commerce by Pakistan Post would turn the department into a profitable organization through capturing major chunk of this innovative domain.
Ministry of Communications and Postal Services, headed by Murad Saeed had introduced some new initiatives in view of the growing e-commerce market in the country to further strengthen the financial services of the department and meet the modern needs of its customers, an official of Pakistan Post told APP on Tuesday.
“Pakistan Post is providing e-commerce facility with different options including delivery partner, sale through postal counter, collect and return service and co-branded partner”, he said.
He said that Pakistan Post also offered cost-effective Cash on Delivery (COD) at regular and subsidized bulk user rates to delivery partners.
He said that Pakistan Post also intended to offer collaboration with interested e-commerce partners, through selling their products using postal counters, by providing brochures or using tabloids for order placement on online Pakistan Post Shop.
He said that the department was also offering collect and return services for the exchange and return of articles through poster counters.
“Co-branded partner allow to display partner products on Pak Post Shop with specific or customized products for online Pak Post Shop for sale” he added.
The official said that many international web portal operators have shown their interest to enter into Pakistan market with Pakistan Post as their delivery partner.
It merits mentioned here that E-commerce is growing steadily in the country with the size of more than Rs.100 billion. This industry is registering a healthy year on year growth of more than 90 per cent.
With a population of 220 million and several financial inclusion solutions, Pakistan is one of the largest markets of e-commerce in the world.