Federal Minister for Planning, Development and Special Initiatives Prof Ahsan Iqbal has said that digital technologies can transform the economy and stressed the need to equip Pakistan’s youth with modern skills to benefit from global economic opportunities.
Addressing the ceremony at Fintech Edge Institute, here on Saturday, he said that every sector of the economy is undergoing a paradigm shift, with digital platforms redefining the foundations of production, finance, and governance. “The speed and scale of this transformation are so significant that countries failing to adapt risk becoming irrelevant, while those embracing these capabilities will become the primary beneficiaries of the digital revolution,” he remarked.
The planning minister said that Pakistan’s large young population presents a unique opportunity. By providing them with skills in Web3, fintech, blockchain, artificial intelligence, and cybersecurity, the country could emerge not only as an information power but also as a strong pillar of the future knowledge economy.
Tracing the origins of Pakistan’s digital vision, he recalled that efforts began in 1997-98 under Vision 2010, aiming to prepare the country for a knowledge economy.
The minister also highlighted achievements such as ending load shedding through the addition of 11,000 MW of power by 2018, eliminating terrorism by 2017-18, and attracting $25 billion in Chinese investment through CPEC initiatives, positioning Pakistan as a promising investment destination.
The minister also reviewed the setbacks faced after 2018, including economic mismanagement and the countries near default. “Despite these challenges, we laid the groundwork for the digital economy. In 2017, Pakistan established the National Center for Artificial Intelligence, National Center for Cybersecurity, Big Data and Cloud Computing, Robotics and Automation, Satellite Technology and GIS, and Applied Mathematics, creating the foundation for tomorrow’s economy,” he said.
Prof Ahsan Iqbal said that initiatives like the Fintech Edge Institute are part of a broader strategy to prepare the next generation of digital professionals, ensuring Pakistan capitalizes on technological advancements and strengthens its position in the global economy.