Faiza Tehseen

Pakistan needs an integrated computing network to digitize the economy in order to boost industrial development and bring about the desired socio-economic change, opined Nazir Hussain, President Pakistan China Joint Chamber of Commerce and Industry (PCJCCI), while talking to WealthPK.

He said, “The Chinese model can be a practical example for Pakistan to follow. After the United States, China has the largest digital economy globally. Like China, the establishment of smart business hubs will give a new impetus to the development of business sector in Pakistan.” China strategically established digitalized national business hubs in its key areas and regions. The same model can be replicated in the major cities of Pakistan, including Faisalabad, Lahore, Sialkot, Karachi, Peshawar, Quetta, and Gilgit-Baltistan (GB). Digital industrialization can turn the telecom, information, artificial intelligence, blockchain and internet industries into the most profit-oriented entities. Special training programs and addition to the school curriculum will also play a vital role.

Talking to WealthPK about transformation from an industrial-based economy to a digital economy, head of the media and communication wing of Rawalpindi Chamber of Commerce and Industry (RCCI), Zulfiqar Ahmed said, “It is not just a strategic necessity for Pakistan, rather it is essential for ensuring long-term competitiveness, innovation, and economic resilience in the global market. This shift requires a cohesive effort from policymakers, industries, and chambers like the Rawalpindi Chamber of Commerce and Industry (RCCI) to drive this digital transformation.” He said the national computing network will boost the free flow of data necessary for ensuring a smooth economic cycle. Such economic hubs will act as the key drivers of economic growth and support national income.

Appreciating the Chinese efforts to build a national integrated computing hub, he said the national integrated computing network there was a part of the government’s ongoing efforts to accelerate this new business infrastructure. He said, “Pakistan can also adopt this technique to boost the development of multi-scaled data centers and data center clusters in its key regions. This move will help achieve structural balance among the data centers in different regions, boost innovation in big data applications, and improve efficiency in the use of computing resources. It would be a big push to accelerate the development of 5G networks and 1,000M fiber optic networks to create a smart ecosystem.”

Zulfiqar Ali said global competitiveness could be achieved by transitioning to a digital economy. By leveraging technology to optimize efficiency, scalability, and market access, digital economies outperform traditional ones. Adopting digital solutions will enable Pakistan to effectively compete in the global market. He said, “Digital platforms, including e-commerce and fintech, help small businesses and individuals access financial services more effectively. Automation and digital tools lead the industries to higher productivity and reduced costs. They also enable businesses to innovate products and services. Digital platforms offer opportunities for skill development, freelancing, and entrepreneurship.”

Credit: INP-WealthPk