Digital economy in Pakistan can tap the abundant potential of the country’s land, its system and human resources to boost the GDP’s value up to an ambitious level of $50 billion per annum, this was claimed by a study of Overseas Chamber of Commerce and Industry (OCCI) which suggested recommendations and action plans to the government and all relevant stakeholders.
Pakistan’s digital participation metrics are currently lagging behind regional economies; but the potential to improve is immense as we are amongst the fastest growing mobile market globally, with over 150 million mobile phone subscribers accounting for 73% teledensity and around 156 million people still without internet.
Keeping in perspective the current developments in ICT and the fact that we still have to take meaningful steps in that direction, the following recommendations need to be prioritized and acted upon with a sense of urgency.
By executing this National Digital Program, the federal and provincial governments can develop and implement a comprehensive set of initiatives that can deliver significant growth in GDP, exports, contribution to the exchequer and broadening of the tax base. In addition, the National Digital Program will yield several societal benefits in critical sectors, such as health and education that will contribute to the overall uplift in the wellbeing of Pakistanis.
The report mentioned that countries, that have embraced the digital revolution, have taken action to integrate innovative technologies at all levels of society and the economy. Their digital journeys reveal that they have followed similar goals while their national priorities and political structures have resulted in different trajectories and timelines. Each of these countries has sought to compete with other regional economies, while at the same time learning from the experiences of others.
The underlying objectives of their digital transformation can largely be aggregated into the following three categories:
Pakistan is considered to be amongst the major emerging global economies. On digital participation metrics, however, we are lagging behind regional economies; but the potential to improve is immense as we are amongst the fastest growing mobile markets globally. This makes our country one of the top-5 growth markets for the connectivity industry
The report “Recommendations on National Program for Digital Transformation” is an effort by the members, who are leading foreign investors belonging to 35 countries including 50 Fortune 500 companies, to share their experience and expertise in helping the country move to a respectable level of digital participation by all segments of the society.
The advancements in digital technology are inspiring innovation. Being amongst the fastest growing mobile markets in the world, Pakistan has immense potential to become a global leader in digital innovation. Presently, many businesses and individuals are creating applications and solutions that are helping accelerate economic growth. This is being done through innovations in all sectors of the economy; however, there is still immense growth potential. If an enabling environment is created through the implementation of the policy recommendations provided in this report, we believe the economic and social impact will be unparalleled, the report stated.
In order to empower and enable digital entrepreneurship, an ecosystem needs to be established and the youth of Pakistan needs to be equipped with a digital skillset. Focusing on digital literacy, E-education and digital entrepreneurship will not only reduce inequalities, create jobs and boost the economy but will also give Pakistan a fair chance to compete with other regional economies.
Globally, digitalization is a key factor in reshaping the world of medicine and healthcare. In Pakistan, there is a dire need to revolutionize this sector and digital technologies provide numerous opportunities to do so. Digital transformation also has a major impact on smart and efficient governance. Through adopting and accepting digital technologies such as cloud computing and artificial intelligence, the government can change the way it does things and make life smarter and simpler for its citizens. The government should be dedicated to constantly implementing innovative ways to make processes seamless and efficient not only for its employees but for the country as a whole.
OICCI in its report, sought feedback of its Digital Plan recommendations which aims to gradually transform the digital landscape of Pakistan by reducing socioeconomic inequalities, creating an ecosystem for use of technology in all segments of the economy including agriculture and more importantly, how to move towards a smart government by benefiting from the Cloud as an enabler to Digital Government. The report also makes certain policy recommendations for ensuring a sound infrastructure through Artificial Intelligence and Blockchain.
The OICCI’s report on Recommendations on National Program for Digital Transformation can be viewed in detail here.