PCJCCI holds online businesses meeting

LAHORE: Pakistan can bring a revolution in online business with the help of Chinese companies already working in the country. This is the best time to improve the skills of people. People already have latest mobile phones, local machines and latest equipment so they just need to improve their skills.

Pakistan China Joint Chamber of Commerce Industry (PCJCCI) President Moazzam Ghurki said during a think tank that 10 legal fintech companies were working in Pakistan, and four of these were Chinese companies, including Seed Creed Financial Services, Micro Creed Financial Services Limited and Hammra Financial Services Limited.

PCJCCI president also said the companies could also connect the Pakistani fintech industry with WeChat and Alipay. "WeChat has already revolutionised online business in China. Users can buy and sell their daily items online through WeChat," he said.

Ghurki added that there is a dire need to synchronise these brands with the fintech industry of Pakistan and the state-run financial institutions. PCJCCI Senior Vice President Fang Yulong said that any Pakistani fintech company such as UBL Omni, Jazz Cash and EasyPaisa etc could be developed on the pattern of WeChat. Currently, local fintech companies were moving in the opposite direction of international fintech firms.

"We need to coordinate and make it a unique and common platform, which is accessible to everyone. Pakistan has a good 4G system and it is also moving towards 5G. Pakistan should make its network capable of new technology," he suggested. PCJCCI Vice President Hamza Khalid said that we should engage the youth of Pakistan to develop human resources.