Alibaba Group likely to invest in Pakistan’s e-commerce industry

Alibaba Group to invest in Pakistan

After the founder of Alibaba, Jack Ma, showed interest in Pakistan’s economy at World Economic Forum (WEF) 2017, the company officials have arrived in Pakistan. They have held various meeting including the one with Pakistan’s Finance Minister, Ishaq Dar.

While meeting PM Nawaz Sharif in Davos, Jack Ma expressed that he and his company are closely monitoring the growth in Pakistan’s e-commerce sector that has convinced them to explore opportunities in Pakistan.

Reportedly the delegation is impressed with Pakistan’s progress in the field of IT, telecom and broadband penetration, which has given the e-commerce a boost in the country.

According to the recent statistics by Pakistan Telecommunication Authority (PTA), mobile broadband users in Pakistan have been increased to 38,269,702 by January 2017, where broadband subscribers have been increased to 40,786,778.

Ishaq Dar in his meeting with the Alibaba delegation relayed that more than 11 percent of Pakistanis use mobile phones for conducting financial transactions. He also expressed that Pakistan is a regional leader in the segment and that the use of digital services in Pakistan have been on the rise.

Daraz, that recently appointed a new Managing director, has been rumored to be up for a possible acquisition by the Alibaba Group, a deal that can launch the Chinese-American company in Pakistan’s e-commerce industry.

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