Information Technology to speed up economic growth in Pakistan: Chinese Scholar

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BEIJING, Feb 22 (APP):The development of information technology industry can put Pakistan’s economy on the track of fast development for prosperity and enhancement of the comprehensive national strength, a Chinese scholar said on Saturday.

“The information industry has become the driving force for the economic development of all countries in the world. Therefore, the development of information technology industry can put Pakistan’s economy on the track of fast development for prosperity and enhancement of the comprehensive national strength,” Cheng Xizhong, Special Commentator of China Economic Net and visiting Professor at Southwest University of Political Science and Law opined in his article.

He informed that currently, the global information industry is growing at a rate of 30 per cent. At present, Pakistan’s export value of information technology products and services is about 1 billion U.S. dollars.

On February 7, Prime Minister Imran Khan convened a meeting to study urgent measures to drive information technology development. Experts put forward five measures: first, to encourage small and medium-sized enterprises to develop national information technology; second, to publicize the international image of Pakistan’s technology investment environment; third, to build five information technology special zones to promote the export of information technology; fourth, to formulate 5G plan and develop telecommunications infrastructure; and fifth, to adjust the tax policies to make them more reasonable for export of information technology products and services.

With electronic technology and information service as the development core, information technology industry has gradually become an important standard for a country’s comprehensive strength.

At present, many countries in the world regard information industry as a pillar to promote economic and social development. At the same time, the information industry can effectively promote the adjustment of industrial structure, bring new development mode to the economy, and provide necessary conditions for sustainable development.

He said, the impact of information technology industry on the development of national economy is mainly reflected in the following five aspects.

The first is softening effect. Information industry plays a softening role in the development of national economy, which is mainly reflected in the softening effect
on industrial structure, employment structure and consumption structure.

On the one hand, soft industry appears in the national economy, such as software industry, computer information service industry and database industry. On the other hand, the hard industry can also be softened.

The advanced technology and equipment and excellent information environment brought by the information industry can make significant changes in the production, sales and management of many traditional industries.

The second is boosting effect. Information industry can not only create social value independently, but also penetrate into other industries, drive the development of other industries, and then upgrade the whole economic system.

The third is optimization effect. Information is the key factor for modern production, which lays the foundation of modern productivity together with capital and labor force.

Information elements can boost the information content of capital elements, and significantly improve the overall level and utilization of capital.

Information elements can also improve the technical level of workers and enhance the transparency and openness of management, thus making the national economic system enter into a more efficient operation trend.

The fourth is multiplication effect. The information industry can play a direct or indirect role in the economic growth. The information transformation of traditional industries can effectively promote the productivity, and thus produce a series of overall economic benefits.

The fifth is the leading effect. The technological revolution in the new era has led to the development of many high-tech industries.

As a breakthrough in the application research for various industries, the information technology plays a key leading role for such industries as biopharmaceutical, communication engineering, optical fiber technology, marine technology, material and energy, and new services.