ISLAMABAD – With the emergence of the new government, Pakistan’s shifttowards the development of ‘Digital Economy’ is increasing day by day.
Pakistan currently has an abundance of manpower and if the new governmentcan utilize the country’s huge reserves of human resource to develop its‘Digital Economy’, then according to Overseas Chamber of Commerce andIndustry (OCCI) Pakistan’s GDP can be increased by a whopping $50 billionper annum.
Although Pakistan’s digital participation metrics are lagging behind itsneighbors, its digital penetration index is on the upward trajectory.
However, there is still huge untapped potential when it comes to leveragingthis digital transformation for economic growth. Google’s recent whitepaper on Pakistan’s increasing influencelinkinthe smartphone market is another indicator pointing towards huge potentialin Pakistan’s digital landscape.
Lars Anthonisen, Head of Large Customer Marketing, South Asia Google wrotethat Pakistan is emerging as a key digital-first country with the fifthlargest population with increasing number of entrepreneurs. With over 150million mobile phone subscribers, Pakistan is among the fastest growingmobile markets in the world.
With such huge potential, Pakistan is currently one of the top-5 growthmarkets for the connectivity industry. Currently, many entrepreneurialbusinesses in Pakistan are providing solutions for many problems viadigital innovations which in turn is helping to accelerate the growth ofeconomy.
However, with such a promising talent, it should be noted that thegovernment’s socio-economic policies are not catered for an entrepreneurialenvironment.
Read Top Stories
Simply put, in order for the digital sector of Pakistan to develop, thePakistani government must provide an ecosystem that develops and nurturesthe digital skillset of the youth.
There have been some attempts in recent times where the government hasintroduced the concept of E-education in schools but the pace and scope ofthese attempts have been very limited. Overseas Chamber of Commerce andIndustry (OCCI), in its report, stated the following recommendations thatneed to be implemented for a better ecosystem for Pakistan’s digitaleconomy:
– Deployment of technology in the healthcare sector – Develop digital skills in the workforce – Develop a financially inclusive economy which can increase the GDP and create more jobs – Streamline the use of technology in the agriculture sector for a more efficient output – Create more economic zones for the IT sector which can increase digital entrepreneurship – Improve and expand the reach of broadband services – Develop and adopt the concept of Big data and subsequently use Artificial Intelligence for more sustainable development – Develop Blockchain technology for better tax collection and voting system
If the government can prioritize transformation of the digital landscape ofPakistan by reducing socioeconomic inequalities, creating anentrepreneurial-friendly ecosystem and streamline the use of technologyaccording to the recommendations which have been put forward by OCCI, thenPakistan can witness a definitive upward trend in its digital economy,fulfilling the predictions that we have been hearing about IT takingPakistan out of predicament and towards a more prosperous future.
