Careem Pakistan proposes system for remittances, where expats can optionally invest

KARACHI: Careem Pakistan has proposed a new online payment system for remittances, where the expats can optionally invest their money in products and get a market compatible rate of return.

Junaid Iqbal, CEO Careem Pakistan, called on Zulfikar Bukhari, Special Assistant to Prime Minister on Overseas Pakistanis & Human Resource Development to discuss the ever-growing online market place, facilitation of Pakistani expatriates and the role of government to regularize e-business.

Bothdiscussed the facilitation of Pakistani Expatriates in and outside Pakistan. The creation of a mechanism was agreed upon to facilitate expats that are OPF card holders.

Zulfikar Bukhari said that the regulations to handle e-commerce in Pakistan are not at par. “There is a need to regularize online businesses and the government is working on the subject”.

Junaid Iqbal apprised the meeting of the new ventures that Careem Pakistan is working on in order to create more jobs for Pakistanis.

He also said that Careem Pakistan has embraced a different approach with regard to its dealing with the government. “Careem prefers collaboration with the government in order to be a productive employer and a tax contributor,” he said.

In this regard, e-laws to regulate all forms of online business are the need of time. Both discussed the new opportunities that the online marketplace can offer in the form of job creation.

The online marketplace will result in two million shops by 2023 and business at such level will need to be regulated.

Zulfikar Bukhari said that the online business needs to be registered as an industry where regulations of the government are applicable.

“Women are increasingly participating in online businesses and this can give them the opportunity to create more products and services which eventually will benefit the economy as a whole,” Bukhari said.

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