Pakistan?s e-commerce boom is here to stay

Pakistan?s e-commerce sector is growing, and rapidly. According to the Gulf News, the sector is currently worth $60 million and is expected to cross the $1 billion mark by 2020, fueled by foreign investments and the emerging mobile payment platforms among other factors.

Yusuf Hussain, director of the Islamabad Founder Institute, while talking to GN Focus said that the Pakistani e-commerce market has been helped by the improving security situation, burgeoning tech-savvy middle class, increased investments in the tech sector and growing popularity of online transactions.

About mobile payment platforms, he told the publication, ?With growing maturity, they are poised to make inroads into the cash on delivery models and expand the pie.?

Jamil Goheer, co-founder of Virtual Force, which provides technology platforms to startups, the rise of e-commerce has been driven by infrastructure development, GDP growth, strategic geolocation, the China-Pakistan Economic Corridor and technology upgrades.

?Businesses are reaching out to their consumers over various digital platforms and advocating for economic activity over the Internet due to lower costs,? he was quoted as saying by GN.

E-commerce has been growing at an ?astonishing speed?, fueled by the rise of social networks in Pakistan, said another tech entrepreneur Moeez Javed, founder of online fashion store Virgin Teez.

Introduction of 3G/4G was another major breakthrough that fueled the rise of e-commerce in Pakistan, according to Arzish Azam, founder and CEO of Just Price. He estimated that there are more than 2,000 online stores in Pakistan.

According to research by shopping portal Kaymu.pk, people aged 25-34 make up the highest number of e-commerce users, followed by the 18-24 group.

There are, however, several challenges that lie in the way of the e-commerce boom in the country. Red tape in the company registration process, the prevailing tax regime and the fact that almost half of Pakistan?s population resides in rural areas are some of the hindrances inhibiting the e-commerce sector.

Azam believes quality assurance, a complaint mechanism and on-time delivery are some of the things that need implementing to help the sector. ?If they prioritise the convenience of consumers then they?ll truly be able to replace offline shopping in the next decade,? he told GN.  

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Child kidnapped in Jhelum

JHELUM: An eighth grade student was kidnapped on Wednesday, spreading fear and panic in the locality.

The 14-year-old child Abdullah was kidnapped from Mota Jehangir area. His father said that he had left his house have air pumped into his bicycle?s tyre but never returned home.

The father also filed a report at Saddar Police Station against the kidnapping of his son. 

Police filed a case of kidnapping regarding Abdullah under section 363. The Supreme Court of Pakistan had taken a suo moto case regarding the rise in kidnappings in Punjab, especially Lahore.

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Child kidnapped in Jhelum

JHELUM: An eighth grade student was kidnapped on Wednesday, spreading fear and panic in the locality.

The 14-year-old child Abdullah was kidnapped from Mota Jehangir area. His father said that he had left his house have air pumped into his bicycle’s tyre but never returned home.

The father also filed a report at Saddar Police Station against the kidnapping of his son. 

Police filed a case of kidnapping regarding Abdullah under section 363. The Supreme Court of Pakistan had taken a suo moto case regarding the rise in kidnappings in Punjab, especially Lahore.

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Indian Army chief alleges he was victimized by predecessor

India?s Army Chief Dalbir Singh accused Union minister VK Singh of victimization, alleging that as Army chief VK Singh imposed an ?illegal ban? on him, only to deny Dalbir promotion to lead the armed forces.

Dalbir Singh told the Indian Supreme Court in an affidavit that VK Singh imposed an illegal discipline and vigilance ban against him, according to the Indian Express.

The allegations are a first by a serving army chief against his predecessor. Indian media reports quoted Dalbir to have said, ?False, baseless and imaginary allegations of lapses were leveled against me in the show cause notice? issued to in May 2012.

The ban was only lifted after Vikram Singh took over as army chief in June that year.

VK Singh?s tenure was littered with controversies. Before his retirement VK Singh had tried to change his date of birth in order gain more time as army chief ? the request was denied.

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Tax laws shield most Panama Papers? names from legal action

ISLAMABAD: The Pakistani tax laws don’t allow the authorities to proceed against most, if not all, of those named in the Panama Papers, the Federal Board of Revenue (FBR) sources claim.

They said the limitation clauses of the income tax laws bar the tax man from going beyond the last five years. “We have not yet found any actionable case among those named in the Panama Papers,” a source said, adding that the law does not permit to open cases beyond the limit set in the law.

Tax declarations of income tax filers are time barred and could not be opened beyond last five years. The law also restricts the tax man from probing the investment, wealth or income of a non-filer beyond ten years. Earlier for even non-filers, the time barred period was five years.

The FBR sources said that so far all those offshore companies looked into are found time barred and thus are not actionable under the law.

Recently in response to a question from PPP’s Dr Nafisa Shah, the National Assembly was told by the government that the FBR has identified 440 persons linked with different offshore companies and it is obtaining information and documentary evidence about the investment or income of the offshore companies of the Pakistani residents.

Parliamentary secretary Rana Afzal had told the NA that in case it is found that the person has filed the return and the information matches with the declared particulars of his income, no further action shall be taken. He informed the house that in case no record of the person is found available with FBR, the person shall be issued notice u/s 114 of the Income Tax Ordinance, 2011 to file his income tax returns. 

The parliamentary secretary also said that in case, the return has been filed but the offshore investment or income, as the case may be, has not been declared by the person, the tax payer will be issued a show cause notice to explain the sources of investment and income derived there-from, including any other details/documentary evidence as are necessary.

The FBR sources, however, said that the notices could be issued to only those filers or non-filers who would have opened these offshore companies during the last five years, in case of filers, and ten-years in case of non-filers.

Regarding the Security and Exchange Commission of Pakistan (SECP) investigation into the offshore companies, the NA was recently told, “Prima facie, the investments mentioned in the Panama Papers were made by the persons in their individual capacity and same has not been routed through the company's account."

A few months back, the Minister for Finance Ishaq Dar was reported to have directed the FBR, SBP and SECP to initiate a probe into the Panama Papers with the directives to complete this exercise on a priority basis.

The FBR was told by the finance minister to verify whether all those persons having resident status as defined under the Income Tax Ordinance 2001, whose interests in offshore companies had been made public in the Panama Leaks, had fully declared the said interests in their annual tax returns available with the FBR. It was also directed that in case any of the aforementioned persons was not a filer, proceedings in accordance with the law may be initiated immediately. 

 

--Originally published in The News

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Airlander 10, the largest aircraft takes to the air

LONDON: The Airlander 10, dubbed as the world?s largest aircraft took to the air for the first time on Wednesday from an airfield north of London.

According to media reports, an earlier planned flight for the hybrid air vehicle scheduled for Sunday was cancelled due to technical issues.

At 92 meters long and over 43 meters wide even the Airbus A380 is dwarfed before it. However, it carries a much slimmer price tag in comparison, just north of $32 million the Airlander costs one-tenth the price of an A380 ($375m).

The Airlander by design can carry heavier loads than conventional airships but will consume less fuel. Developer company Hybrid Air Vehicles claims the Airlander can travel at speeds in excess of 90 mph (148 Km/h) and can stay airborne for two weeks.

 

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MQM begins hunger strike unto death

KARACHI: Legislators and activists of the Muttahida Qaumi Movement began observing a hunger strike unto death outside the Karachi Press Club on Wednesday to protest against the alleged “atrocities and injustices” committed against the party over the past three years on the pretext of an operation against criminals in Karachi.

The protest started under the leadership of Aslam Afirdi, a member of the MQM’s coordination committee, and members of the National Assembly and the Sindh Assembly belonging to the opposition party are among the hunger strikers.

The fast-unto-death was announced by Dr Farooq Sattar, senior deputy convener of the coordination committee, and deputy convener Amir Khan at a press conference held at Khursheed Memorial Hall in Azizabad.

Sattar cited various reasons, including the alleged economic murder of Mohajir youths, violations of human rights, torture on Muttahdia activists, illegal raids and detentions by law enforcers, for the decision to begin the hunger strike.

He said Mohajir workers were being arrested from their houses and offices and thousands of workers were missing.  He accused law enforcement  agencies of adopting a humiliating attitude towards workers and supporters of the party.

Gross human right violations were being committed in various parts of the city, he added. He had earlier said that Urdu-speaking people were being victimised.

The MQM has been protesting against the paramilitary Rangers for committing what it calls “excesses” and “injustices’ against its workers and leaders and has called upon the federal government and the army chief to intervene and do justice. It recently staged a token hunger strike against illegal detentions of its workers.

The party has also termed the arrest of its Karachi mayoral candidate, Waseem Akhtar, illegal and unconstitutional. The MQM has been demanding of the law enforcement agencies to stop conducting illegal raids to arrest its workers, and warned them not to push it to the wall “before it is too late”.

Earlier, a statement, issued after Amir Khan presided over an emergency meeting at the his party’s headquarters, Nine Zero, said the government and the opposition had turned a deaf ear to Mohajirs’ issues and sufferings. The meeting observed that raids and arrests by Rangers, police and other law enforcement agencies had become a routine. Khan said the rights of Mohajirs were being violated by “some conspiring elements among the authorities”.

â€"Originally published in The News

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