Revolutionizing from analog to digital, this is what we are listening to for the past few decades. Digitalization has wrapped the globe in a sense that nothing can dare to pay no heed to it. Today’s article will be a great help for reviewing the negative as well as positive impacts of digitalization on the economy of Pakistan,
Digital revolution and technology, an important curve
The world is far ahead in the race of digital technology. Digitalization has eased the task that even any work can be done within just a blink of an eye. The Digital revolution has become an important curve, especially in today’s world, where a global pandemic has stabbed the overall world economy.
To be a part of this digital globalization, Pakistan is struggling with its matters. Still far behind in the race of digital technology, it has become a dilemma for the country to compete with its other neighboring countries.
Is digital technology important for Pakistan’s economy?
Talking about exact our state, it has become a norm now. As stated earlier that we are far behind the race; Pakistan is lacking in many technologies. Here, a major part of residents depends on daily labor. But still, the importance of digital technology cannot be denied.
If we look into the world after the pandemic, we can easily embrace the importance of digitalization for the economy of Pakistan. Being in a similar lock-down situation for almost more than a year, everything depends on technology. From education to shopping, digitalization must be adopted to survive.
Elements having a positive impact on Pakistan economy
Globalization that includes digital technologies always has amazing impacts on the economy. Digitalization has diverted the economy from a chiefly materialistic to a digital, programmed economy, and IT has gained essential importance in the industry and marketplace.
Some prominent digital revolutionary elements that can affect Pakistan’s economy include a place in the global tech news. Being in the global technology news, Pakistan can welcome more investors from outside the state too. This thing will not only bring back the lost confidence in the economic situation of the country but also will boost the new investors too.
Many international projects like CPEC have already been on the way to its achievement. Besides China, Turkey is also investing its larger amount for the digitalization of the country.
Looking into the smaller scale, people can shop, study, give exams and even can get booked without stepping out. The big revolutionary impact can be seen in the field of education, where students can easily study, research, submit assignments, and can even give exams without stepping out of their place.
Are there negative impacts of digitalization on the Pakistan economy?
As stated earlier, a major part of the population is below the average line. Due to the global pandemic, the middle-class has shrunk into the lower-one. The foremost part of labor depends on daily wages, whereas many couldn’t afford the technology.
Where the online system has eased once life, there many daily wagers are surviving to live. Many applications like Daraz, Careem, and local groceries have relieved the stress of stepping out, but this thing has tapped the daily-wagers badly.
Steps for the revolution of digital technology
We have gone through the positive and negative impacts of digital globalization. Despite being digitalization leaving a negative effect on the labor force, it is slowly becoming a norm in third-world countries. Government should take some necessary steps to revolutionize global digitalization in the country. The steps include
- Bringing up more schemes where the lower-class can also be provided with basic digital technology.
- Different educational programs should be initialized to educate in this regard.
- Programs on the importance of the digital revolution should be emphasized on the news channels that will directly highlight the after-effects of digital technology.
Besides that, the government still is taking many initiatives to bring back the confidence in the foreign investors that can help to bring back the positive impact of Pakistan in digital globalization.
The wrap-up words
Going through all the points, digital technology has a great impact on Pakistan’s economy. Though it can affect the below-average labor, looking into the long run, this thing will be quite beneficial to Pakistan’s economy.