Minister assures complete support for e-commerce gateway

Source:  APP Published in Science & Technology on Monday, November 23, 2015

ISLAMABAD - Minister of State for Information Technology and Telecommunications Anusha Rahman on Monday said that it was indispensable for Pakistan to have a complete functional e-commerce gateway to act as a bridge between financial institutions for legitimate processing of e- transactions.

Chairing a meeting of Inter-Ministerial Committee (IMC) for establishment of e-payment gateway in Pakistan, the state minister said that the Ministry of IT would continue its support for establishment of e-commerce gateway in the country. She said that e-commerce, being a major component of economic development is considered as a vital element of economic policies throughout the globe.

The state minister said that for successful establishment of e-commerce gateway in the country, it was mandatory to have a comprehensive policy framework, which consists of policy guidelines, rules and regulations along with dispute resolution and remedial mechanism for consumers. She said that this would ensure security of the system and also work as trust building measure. The nominees of Ministry of Commerce were requested to expedite the process and all stakeholders to fully provide all facilitation in this regard, she added.

Anusha stressed all IMC stakeholders to adopt a holistic approach to enable fully functional e-commerce value chain in Pakistan so that citizens could get benefits from potential of this project. She said that after Payment System Operators (PSO) and Payment System Providers (PSP) had been announced by the State Bank of Pakistan (SBP), now Ministry of Commerce should solicit mechanism to coordinate with International e-Commerce Players encouraging them to establish their setup in Pakistan.

The representatives of the SBP informed the minister that state bank was already complying with directions of the committee and had issued 04 licenses to major banks for branchless e-banking and they were successfully carrying out their operations throughout the country. They said that the SBP is continuously processing such more applications received from other banks as well for domestic transactions.

The state minister said that our export based remittances as reported by the SBP were not representing actual figures because all IT companies were not getting their transactions under six digit head allocated by the SBP. She asked the SBP to issue an advisory to all concerned in this regard so that actual figures could be reflected.

The meeting was attended by Pakistan Telecommunication Authority (PTA) Chairman Dr Syed Ismail Shah and senior officials from Ministry of Finance, Minister of Commerce, Pakistan Software Export Board (PSEB), State Bank of Pakistan and Federal Bureau of Revenue (FBR).