Business
February 12, 2021
ISLAMABAD: The government is all set to launch a new system to process payments within and from Pakistan through integration with any international payment provider, officials said on Thursday.
The officials of the National Institutional Facilitation Technologies (NIFT) said the payment system will be facilitated by the involvement of third party. The payment facility was to become functional by the end of 2020. However, the multi-party engagement with the effect of COVID has affected the plan.
“However, we are working on it and will update as soon as they are ready to take it to SBP. Assistance from SBP will come in once they put in the complete details for their review. The pilot run is now expected in second quarter of 2021,” the NIFT official told the 4th meeting of National e-Commerce Council (NeCC).
Pakistan’s e-commerce market size posted a growth of over 35 per cent in the first quarter of the fiscal year 2021 to Rs96 billion. CBC/File
ISLAMABAD: Pakistan’s e-commerce market size posted a growth of over 35 per cent in the first quarter of the fiscal year 2021 to Rs96 billion compared to Rs71bn over the corresponding period of last year, the Ministry of Commerce said on Thursday.
The data was shared in the fourth meeting of National e-Commerce Council (NeCC) chaired by Commerce Adviser Razak Dawood and attended by representatives of the public and private sectors. The meeting was informed that e-Commerce merchants with prepayment have been increased to 2,164 from 1,410 in the past 12 months.
The Adviser to Prime Minister on Commerce chaired the 4th meeting of the National e-Commerce Council (NeCC) at the Ministry of Commerce (MOC) on Thursday.
Top Story
January 27, 2021
ISLAMABAD: Federal Minister for Information and Broadcasting Shibli Faraz Tuesday said the federal cabinet had approved constitution of a commission of inquiry on the Broadsheet issue, under the chairmanship of Justice (retd) Azmat Saeed, to bring the truth before the nation.
Briefing the media about the federal cabinet decisions and replying to their questions, he said the commission was set up under the Commission of Inquiry Act 2017, instead of a committee, to investigate the Broadsheet case.
The minister said that besides the Broadsheet issue, Hudaibiya Sugar Mills scam and Surrey Palace of the PPP leaders would also be investigated in future. The inquiry commission, he explained, would submit its findings on the Broadsheet issue within 45 days and expose those who had played key role in destroying country’s economy. The commission, as per its terms of reference (ToRs), could summon any institution or individual or seek documents. Shibli said the