01 Jan Pakistan’s Logistic Market Grows to $34.2 Billion
The logistics market of Pakistan has reached $ 34.2 billion, with the annual growth of 18 percent, according to Minister for Postal Services Murad Saeed.
He disclosed the above statistics while rolling out a plan for Pakistan Post’s entry into the e-commerce business. The minister said that the future plans of the state-owned postal service will be adaptive to the needs of the present times.
“This would include an entry into the e-commerce business,” said the minister. In a meeting, he unveiled a pilot project for micro finance loan disbursement of Khushhali Bank via Pakistan Post. He told that the project will launch within the first week of January.
The formal inauguration of the project will be conducted by the middle of the January.
Moreover, the minister also discussed the capacity and commitment of Pakistan Post to fulfill the needs of online vendors for their cash on delivery (COD) products with immediate payment, reconciliation and delivery proof.
“Many international web portal operators have shown their interest to enter into the Pakistani market with Pakistan Post as their delivery partner,” reads an official statement. “Apart from the business, Pakistan Post is expecting technology transfer and HR development from them.”
Notably, the national postal service is also taking into account the parcel export market valuing $4 billion dollars, which the local and international private couriers are serving already at high rates.
Furthermore, Pakistan Post is expecting foreign direct investment worth $2.5 billion based on a public-private partnership model for its capacity building in the logistics sector.
“The revenue share of Pakistan Post in this endeavor is expected up to Rs 100 billion per annum whereas the current loss of Pakistan Post is at Rs 11 billion,” says the statement.