Daraz, a leading online marketplace operating in Pakistan, has brought to the forefront significant issues related to cross-border payments. During a high-level meeting with Finance Minister Ishaq Dar on Wednesday, Ehsan Saya, Managing Director of Daraz, along with a delegation, discussed these operational challenges in detail.
The meeting, held at the Finance Division, was also attended by Special Assistant to the Prime Minister (SAPM) on Finance Tariq Bajwa and other senior officers from the Finance Division. The delegation from Daraz expressed their gratitude to the Finance Minister for his time and shared an overview of their business profile, highlighting their substantial contributions to the economic development of Pakistan.
Ehsan Saya articulated the various operational hurdles Daraz is currently facing, with a particular emphasis on the complexities and difficulties associated with cross-border payments. These challenges are not only hindering the company’s operational efficiency but are also impacting its ability to expand and provide seamless services to its customers.
The delegation sought the government’s intervention and support in resolving these issues to facilitate smoother international transactions. They emphasized that addressing these payment challenges is crucial for the growth of e-commerce and the broader IT sector in Pakistan.
In addition to discussing operational issues, the MD of Daraz informed the Finance Minister about a significant humanitarian initiative. Daraz, in collaboration with Alibaba, is extending humanitarian support worth US$0.5 million to the flood-affected communities in Pakistan. This gesture underscores the company’s commitment to supporting the nation during times of crisis and contributing to relief efforts.
Finance Minister Ishaq Dar welcomed the delegation warmly and reiterated the government’s commitment to enhancing the IT sector’s contribution to Pakistan’s economic development. He acknowledged the importance of addressing the challenges faced by IT and e-commerce businesses and assured the delegation that the government is placing high priority on facilitating IT-related business activities in the country.
The Finance Minister appreciated Daraz’s support for the flood affectees and expressed the government’s readiness to address and resolve the issues highlighted by Daraz as swiftly as possible. He emphasized that the government’s cooperation with the private sector is crucial for fostering a robust and dynamic economic environment.
The delegation thanked Finance Minister Ishaq Dar for his cooperation and support, expressing optimism that the government’s intervention will help resolve their operational challenges and enable Daraz to continue contributing effectively to Pakistan’s economic growth.
