Alibaba.com Buy’s Daraz.pk Pakistan’s Big E-Commerce website

Pakistan’s IT industry has massive growth potential and even greater investment prospects. In light of this, e-commerce giant Alibaba, one of the world’s largest online retailers, with a total market value of $380 billion, has recently signed a MoU with our Ministry of Commerce. This development is aimed at promoting exports from SMEs and may potentially lead to an investment of approximately $400 million in Pakistan’s e-commerce sector – investment at the moment stands at well north of $120 million. Furthermore, this agreement entails the provision of training for SMEs with respect to using e-commerce platforms, along with promoting mobile financial services and online payment services. On the face of it, Alibaba’s entry seems full of benefits. However, it would be wise to consider both the potential benefits, as well as the drawbacks which may arise as a result of the company’s entry into Pakistan.

Could Daraz be Jack Ma’s next big purchase?

This rumor comes into reality when we got to know today morning about Alibaba has bought Darazpk. Well, Now you can simply say Daraz is converted in Alibaba.

Alibaba’s partnerships with local vendors could also boost the economy. Good examples here are Careem and Uber; owing to their success, many local start-ups have done well – many have worked on the same model and brought motorbikes and rickshaws to similar businesses. Thanks to these developments, Pakistan’s GDP grew by 5.3% – a 10-year high, and according to Ishaq Dar, the former Federal Finance Minister, for the first time the size of the economy surpassed $300 billion.