Shaukat Tarin, the Federal Minister for Finance and Revenue, presided over a meeting with representatives from ‘Daraz,’ one of Pakistan’s most popular internet marketplaces. Mr. Bjarke Mikkelsen, CEO of the Daraz Group, Mr. Ehsan Saya, MD of Daraz Pakistan, Ms. Kiran Faruqi, CFO of the Daraz Group, and Mr. Ahmad Hassan, CFO of Daraz Pakistan represented Daraz.
The Finance Minister greeted the digital marketplace operator and stated that the current administration is in favour of developing the E-Commerce business as a driver of economic progress and a source of future foreign direct investment. The Minister stated that he believes that internet platforms such as Daraz can help to promote small and medium businesses in Pakistan. Such cooperative efforts will also provide job possibilities for the country’s youth, he noted.
MD Daraz Pakistan informed the Finance Minister that his online platform has a total of 20 million products and 15 million monthly visitors. He claimed that the government’s significant concessions to the IT industry have aided in the promotion of Pakistan’s e-commerce business.
Mr. Bjarke Mikkelsen, CEO of Daraz, urged that the E-Commerce business be better represented in policymaking and that tax administration processes and procedures for e-commerce platforms be simplified to make compliance easier.
The Finance Minister reaffirmed his support for Pakistan’s e-commerce industry’s expansion and asked Daraz to offer initiatives where the government and the e-commerce industry might collaborate.
The Daraz team thanked the Finance Minister for his support and promised to deliver their recommendations on SME inclusion through e-commerce platforms as soon as possible.