Thursday, December 2, 2021

Digital technologies can add Rs9.7tr to Pakistans annual economic value by 2030: report - Geo News

Last updated Wednesday, November 24, 2021 09:42 ET , Source: TopWireNews

Report claims Pakistan has the potential to go further in its digital transformation journey despite many achievements is has made already.
Identifies major pillars of action and technologies Pakistan could pursue to reach the projected growth opportunity.
President Arif Alvi says he is amazed by the report's finding about the potential of digital transformation in adding to country's economic value.
Digital transformation can help Pakistan unlock up to Rs.9.7 trillion (59.7 billion USD) in annual economic value by 2030, equivalent to about 19% of the country’s GDP in 2020, a new report commissioned by Google states.
The report, “Unlocking Pakistan’s Digital Potential” — prepared by economists at AlphaBeta — finds that Pakistan has a thriving technology sector.
As per the report, Pakistan is home to over 300,000 IT professionals, produces over 25,000 IT graduates annually, and has nurtured over 700 tech start-ups since 2010.
"Technology exports have grown 15% per year since 2020 and are expected to reach $3.5bn (Rs610,750,000,000) in 2022. Pakistan’s online population has grown rapidly and the internet penetration rate is reaching 54% in 2021,” it states.
The report claims that despite the above-stated achievements, Pakistan has the potential to go further in its digital transformation journey. It identifies three main pillars of action Pakistan could take to reach the projected growth opportunity, which include developing infrastructure to support the local tech...

Read Full Story: https://www.geo.tv/latest/383992-digital-technologies-can-add-rs97tr-in-pakistans-annual-economic-value-by-2030-report

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