PERFORMING the groundbreaking of Pakistan Digital City Special Technology Zone — the flagship project of Khyber Pakhtunkhwa government to be established on 86 kanals of land at cost of Rs 1.31 billion, Prime Minister Imran Khan stressed the need for investing in the technology sector saying it is vital to create employment for the youth as well as improve the economy.
Undoubtedly, digital technologies have risen to prominence as a critical determinant of economic growth, national security and international competitiveness.
The digital economy has a profound influence on the world’s trajectory and the societal wellbeing of ordinary citizens.
It affects everything from resource allocation to income distribution and growth.
Advancements in the computer industry, coupled with advancements in telecommunications, have increased job opportunities.
All physical barriers to communication over distances have been properly overcome by the internet.
In a similar way, manufacturing and consumer goods companies have developed online links to their suppliers and customer support.
Suppliers can keep track of production line efficiencies through automated systems and can more efficiently ship parts and material to the required locations, reducing inventory and downtime.
In addition to that, e-commerce and online banking capabilities have also helped reduce the cost of doing business.
The countries that lead the world in generating advanced technologies and leveraging the full productive capacity of their digital economies are gaining a strategic competitive advantage.
We have before us the examples of China and the United States which are leading the global landscape in technology innovation.
Given the size of our young population, we can also greatly benefit by pursuing the path of technology in order to change the economic landscape of the country.
It is a matter of satisfaction that the country’s IT exports are witnessing a tremendous growth but these can be multiplied several times as done by India through right kind of focus and policies.
The establishment of a technology zone by the KP government is a step in the right direction but at the same time investment needs to be made in establishing state-of-the-art institutions that train our youths in the emerging technologies.
It will amount to helping the youth standing on their own feet and earning their livelihood.
