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The Financial Express

Speeding up introduction of e-commerce trade license, says minister

| Updated: February 16, 2021 18:52:23


Speeding up introduction of e-commerce trade license, says minister

Commerce Minister Tipu Munshi on Monday said they are working with the Local Government Ministry to speed up the introduction of trade license for the industry so that e-commerce businesses could access finance as well as other opportunities.

The minister said this when Chairperson of Business Initiative Leading Development (BUILD) Abul Kasem Khan paid a courtesy call on him at his ministry, reports UNB.

Mentioning e-commerce should be automatically recognised as enterprises, the minister also added that the high-potential sector is not getting promoted as expected since they need trade license.

"We'll work to reduce the current minimum paid-up capital to 0.5 million from 2.5 million for the one-person company in the Companies Act (2nd Amendment) Bill, 2020 to allow more small businesses to take part in registration, thus enabling their formalisation," the minister also added.

 

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