Digitisation — the way forward

Digitisation can significantly boost the GDP growth rate and expand the size of the country’s economy. A report on Pakistan’s digital journey, Recommendations for Digital Transformation in Pakistan, argues that digitisation has the potential to add $60 billion to the economy by 2030 if the government creates a favourable investment climate for local and foreign investors to fill in the large gaps in digital infrastructure and connectivity. The report prepared by the Overseas Investors Chamber of Commerce & Industry (OICCI) covers wide-ranging suggestions to boost digital infrastructure and connectivity, e-governance, e-commerce, EdTech, Fintech, AgriTech, HealthTech, IT exports and Web 3.0 technologies. It quotes international research that a 10 per cent increase in broadband penetration increases the GDP by 1.38pc. “Digitisation offers innovative employment prospects to the 23pc of Pakistan’s population falling in the age group of 20-34 years. This report offers key proposals for the policymakers on various aspects of digital transformation of the economy,” OICCI chief executive and secretary general Abdul Aleem told this correspondent.