Coordinator to Federal Tax Ombudsman Meher Kashif Younis Sunday emphasized the paramount significance of innovation in propelling Pakistan’s technology sector to greater heights with sole active participation of private sector.
Speaking at a seminar on “ Innovation for development led Economy” organised under the aegis of Gold Ring Economic Forum,he said In today’s rapidly evolving global landscape, innovation stands as the cornerstone of progress, enabling nations to adapt, compete, and thrive.
He said technology parks have played a central role in these efforts. Technology parks and innovation clusters are physical locations where businesses, research institutions, and entrepreneurs can collaborate and innovate, he added. He said Finlan, Singapore, South Korea, German, China,California,Ankara ,Bangaluru in India and Cambridge are excellent living examples of promoting innovation that played magic in propelling their economies to new heights globally.
Pakistan, with its vast pool of talent and untapped potential, has a unique opportunity to harness innovation for economic growth, he said adding that by investing in research and development, fostering a culture of creativity, and providing adequate support to startups and entrepreneurs,Pakistan must unlock new avenues in technology.
He said Innovation not only drives advancements in sectors such as healthcare, agriculture, and education but also enhances the nation’s overall competitiveness on the international stage.
He said while promoting innovation for economic development is crucial, there are challenges and considerations that must be addressed.
Meher Kashif Younis who is also Chairman Kyrgyzstan Trade House said embracing innovation will address pressing societal challenges, create high-skilled employment opportunities, and attract foreign investments. Collaborative efforts between the government, private sector, and educational institutions are essential in creating an ecosystem that nurtures innovation and entrepreneurship,he added. He said socia-economic development must be lby private sector-led innovation, adding that private-sector engagement in innovation is vital for economic development.
Pakistan, he said needs to encourage this involvement through various incentives by public sector, adding that It is essential to implement policies that ensure that the benefits of innovation are widely distributed and not concentrated in the hands of a few.—APP
