Eperts stresses digital transformation for economic competitiveness

ISLAMABAD: The experts have stressed the need for digital transformation and local data gathering mechanisms to enhance the economic competitiveness in the country’s economy.

They urged to build ‘Digital Skills’ for promoting technological innovation to Improve Pakistan’s Global Competitiveness rankings of World Economic Forum (WEF) in 2021.

Extreme Commerce to Collaborate with Mishal/World Economic Forum (WEF) to Improve Competitiveness Data on Digital Skills and Jobs of tomorrow in Pakistan, they said while addressing the launching of ‘Executive Opinion Survey’ carried out nationally by Mishal Pakistan, said a press release issued here on Sunday.

They shared that the Executive Opinion Survey help identify some common features that help how Pakistan better manages the impact of the pandemic on its economy and its people.

Meanwhile, Chief Executive Officer of Mishal Pakistan, Amir Jahangir a Country Partner Institute of the New Economy and Societies Platform, World Economic said, “Governments needs to devise systems to use digital technologies for the welfare of the people. He said the tax regimes on technologies that help fight COVID-19 should be given breaks to create more value for the citizens, ”.

He said, “the economic well-being of the society improves by giving preferential preferences to the tools and technologies that enable people to work from home, sustain health and be connected.

He said this included the hardware, software and the medium of the internet that is required to carry out the business.”

Founder of Extreme Commerce, Sunny Ali on the occasion said, “we are enabling our platform for the people to benefit from the platform. The 100+ Digital Skills are open to public, so they can learn and start accommodating themselves in the new digital environment, he said.

He added, “We are especially encouraging the students and youth in universities and across Pakistan to benefit from Extreme Commerce’s Video Boot Camp, so they can build their digital skills for the Fourth Industrial Revolution (4IR) economy and the possible post Covid-19 scenarios”.

The COVID-19 crisis has accelerated digitalization in advanced economies and made catching up more difficult for countries or regions that were lagging before the crisis, he said.

The Founder of Extreme Commerce said for several years before the crisis, skills mismatches, talent shortages and increasing misalignment between incentives and rewards for workers had been flagged as problematic for advancing productivity, prosperity, and inclusion.

Because of the pandemic and subsequent acceleration of technology adoption, these challenges have become even more pronounced and compounded further by permanent and temporary losses of employment and income, he said.

He said to catch up with the global skills development, Pakistan needs to focus in the revival phase on gradually transitioning from furlough schemes to new labour market opportunities, scaling up reskilling and upskilling programmes and rethinking active labour market policies.

He further said the country’s leadership needs to work to update education curricula and expand investment in the skills needed for jobs in “markets of tomorrow”, especially the digital skills, enabling opportunities of work from home.

He said the country has purchased 78 percent of its total available and expected COVID-19 vaccine stock till June 2021.

Future orders are already in place to keep the vaccination process smooth. Almost 18.7 million doses will be administered by June 2021, he informed.

He said the Executive Opinion Survey, carried out nationally by Mishal Pakistan, would be based on the assessment of business leader’s first economic digitization and digital skills, safety nets and financial soundness, governance and planning and health system and research capacity have contributed to countries’ resilience to the health crisis.