Significance of digitalization highlighted at summit

KARACHI:Speakers on the second day of fifth edition of ‘The Future Summit’ highlighted the importance of digitalization including in healthcare to move with the fast changing world.

The two-day summit was organized by Nutshell Group in collaboration with the Martin Dow Group concluded here on Thursday. .

Special Assistant to Prime Minister on CPEC Affairs, Khalid Mansoor said during the initial stage of China-Pakistan Economic Corridor, electricity was too expensive as the major portion was being generated from furnace oil which also directly hit country’s balance of payment.

He emphasized that CPEC was not China centric; it was all about regional connectivity. CPEC was the jewel in the crown of China’s Belt-Road Initiative covering three continents.

He said CPEC projects would prove the best avenue for investment, especially foreign investment. Besides China, Special Economic Zones under CPEC were open to entire world for investment. Pakistan had offered very competitive incentives at the SEZs. By 2030, with expected big foreign investment CPEC would help boost Pakistan’s economy.

Not only China but other countries and business leaders across the globe were already giving enormous attention to this multi-faceted and magnanimous development project.

“We shall soon hold international conference on CPEC significance,” Khalid added.

He presented detailed review of phase-I of CPEC and spoke of the future projects under its second phase which was mainly focused on industrialization and development of agriculture sector.

CPEC starting in 2013 would be completed in 2030 and last five years’ period was being called as the period of maturity of CPEC, which was aimed at bringing socio-economic revolution in Pakistan by bringing industrial revolution, he said.

Khalid Mansoor informed that negotiations on phase-II of free trade agreement were going-on and it would be soon finalized to the best interest of both the countries.

He urged the private sector to take maximum benefit from CPEC as they were the major stakeholders.

Chairman Board of Investment and Minister of State Muhammad Azfar Ahsan showed his confidence that Pakistan’s economy was reinvigorating at fast pace.

He said the government was taking all possible measures for strengthening the country’s economy with focus on increasing exports. It was highly significant to refine the entire process of corporate governance.

Chairman BOI said the business community’s role was decisive in the economic growth of the country and BOI would be extending all kind of support and facilitation to them.

The government acknowledged the important role being played by the business community in the country’s economic progress and development and it wanted them to create wealth by expansion in their business and earning high profit in the best possible business environment.

“It is one of the top priorities of the government to remove hindrances to start new businesses. It also ensures soft and easy availability of financing for SMEs,” he added.

He said that for promoting local and foreign investment in the country, the reforms were being carried in BoI, which had also approved twenty two special economic zones with competitive incentives.

The government was striving to ensure business friendly policies at all levels without any discrimination. The Investors’ friendly policy of the government, led by Prime Minister Imran Khan, had resulted in the economic development over last couple of years, BoI Head said.

Chairman, Senate Standing Committee on Water Resources , Senator Dr Musadik Malik emphasized on fast digitalization , also in healthcare.

“There was a time when television created a magic around all the nook and corners of the world, then the emergence of the mobile phones grasped the market, ” he said.

Malik also highlighted the significance of electronic chips which are being used in healthcare to monitor and closely check the patient’s condition from time to time. This shows the extent to which technology has impacted the lives of the humans.

“One must imagine future in a different way and then devise strategies accordingly. Keeping into consideration your vision and mission, and by means of innovation you drive your life towards future,” he said adding that trends were visible to everyone. The trends in healthcare showed that the burden of illness was increasing as people were living longer and countering several diseases.

He said a big responsibility lied on the shoulders of the policy makers for the best policies anticipating the future demands of the country and the world as a whole.

President Institute of Business Management and Management Association of Pakistan Talib S.Karim ,recalling the time when COVID pandemic unearthed, said the biggest challenge for the educational institutions was to get adept with the usage of virtual and online learning system which was successfully adhered in letter and spirit in order to avoid any loss of studies due to the rising wave of the corona virus endemic.

Douglas Corley, Founder DHB Global and CEO, Alaunius Technologies said that during the severe wave of corona-virus pandemic, three pillars had gained excessive importance which were government versus governance, rebuilding trust and adapt to drive business with continuity.

He said the role of technology was indispensable to mitigate the impact of covid-19 whereas it was the primary responsibility of the leadership to ensure safe products.

In line with what’s coming next, Douglas also highlighted merger of healthcare with climate change innovation, date rush and the influence of crypto currency in the future.

CPEC would be instrumental in bridging the robust relationship between South Asia and Africa among diversified communities and businesses, he said.

Financial Expert Asaid Ali Shah stressed on creating right skills so that Pakistanis could serve through out the world. The education policies should required to be revamped and matched to the global changes.

“More growth was needed in human resources and technologies,” he said.

Chairman, Interactive Group of Companies, Dr. Shahid Mahmud expressed his satisfaction that Pakistan was moving in right direction and we would become 5th largest economy in eight years.