ISLAMABAD: Pakistan can strengthen its “Made in Pakistan” initiative by investing in the technology sector, Nazir Ali, Assistant Director at the Trade Development Authority of Pakistan (TDAP), told Media.
“Investing in the tech sector will reduce the country’s reliance on imports, create jobs, and encourage self-reliance and innovation,” he said.
The need for high-tech products, such as electronics, machinery, medical equipment, and renewable energy technology, keeps growing day by day. The country can meet its internal demand, enhance trade balance, and fortify its economic position by promoting local production, given its substantial population of young, tech-savvy people and the rising number of engineers and IT professionals.
He highlighted that through programs like the Digital Pakistan initiative, which aimed to improve connectivity, enhance digital skills, and foster innovation, the government had already demonstrated its commitment to this vision.
“Currently, much of the country’s high-tech needs are met through imports, which not only drains the foreign exchange reserves but also leaves the country vulnerable to the global supply chain disruptions.”
He added that the government could reduce unemployment and underemployment by generating opportunities in the high-tech manufacturing sector to cater to the growing youth population. In addition, high-tech industries provide better pay and working conditions than traditional industries, raising living standards and promoting economic expansion.
He said it was high time to create an environment that facilitated research and development, and production of high-tech products by utilizing the existing platforms. This would help foster local talent and minimize the ongoing brain drain that has impacted the country’s economy.
Talking to Media, Faheem Jehangir Khan, Acting Director at the Office of Research, Innovation, and Commercialization (ORIC), highlighted that the government should increase its economic resilience by developing local supply chains that ensure a consistent supply of critical components and materials. This would promote the expansion of supporting businesses such as component manufacturing, logistics, and quality control, thereby diversifying the economy.
In contrast to the conventional sectors, high-tech production needs skilled workers, technicians, engineers, quality assurance specialists, and logistical staff, he said.
“The government must address the industry challenges. Significant investments in education, infrastructure, and research and development (R&D) are necessary for local production of high-tech products.”
He lamented that the country invested very little in R&D, and its educational institutions lacked funding to provide state-of-the-art education in science, technology, engineering, and mathematics (STEM).
“Government, businesses, and academic institutions must work together to improve STEM education, boost R&D funding, and develop laws that support entrepreneurship and innovation to get over these obstacles.
“There is a need for regulatory reforms that support the high-tech sector. Both domestic and foreign investment can be attracted by streamlining the legal processes, offering tax breaks to the IT firms, safeguarding intellectual property rights, and establishing tech parks and innovation hubs,” he stressed. –INP
