Pakistan’s digital revolution is happening faster than you think, says World Economic Forum’s report

Pakistan’s IT arena is progressing faster than we have originally been thinking, a new report from a World’s famous instituted has quoted.

According to a report published on World Economic Forum by Managing Director, Financial Advisory Services, Ayla Majid, the digital revolution in Pakistan is happening at a faster rate than expected. According to Ayla, The main accelerating feature behind this rapid expansion is the China’ Belt and Road Initiative (BRI), which is also known as China Pakistan Economic Corridor (CPEC).

In an interesting report covering different aspects of how CPEC is transforming the digital landscape in Pakistan, it is argued that although CPEC was originally thought to be about the traditional infrastructure, like roads, railways and power station, a surprising amount of development is now being seen in the digital infrastructure of Pakistan.

The report goes on to cover prominent indicators for economic growth in Pakistan. With improved investor confidence and an economic growth of 5.8 percent, Pakistan’s economy seems to be on an upward trend. A big proof of increased investor confidence in Pakistan is the majority share buyout of Telenor Microfinance Bank by AliPay, China’s biggest online payment platform.

The report further mentions that in order to continue with this stride, Pakistan would have to keep focusing on its digital side. The country can work on improving the skills of its population and empower them with the knowledge of entrepreneurship and digital tools.

It must be noted here that it isn’t the first time an institute is putting up such a statement. Pakistan does possess all the elements that can make an economically and financially sound country. Just recently, we saw big companies like Volkswagen eager to enter Pakistani marketplace. China’s Pakistani Economic Corridor is another such initiative which can drive a lot of opportunities for the Pakistani population.