Pakistan’s progress in technology: challenges ahead

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We now live in the era of rapid globalization and unprecedented advancement in technology. Technology has become a yardstick for a country’s socio-economic development and it is widely accepted that technology is the key driver of economic growth of countries. It plays a strong role not only in increasing productivity but also provides better living standard, rapid increase in supply, improved trade, advancement in infrastructure, low wastages of resources, minimizing cost, overcome vicious circle of poverty, improving the quality etc. but having lots of benefits some are the issues too involved in either advancement or adoption of technology like diffusion of technology, burden of high import cost of technology instead of having lack of capital and inefficient administration but instead of having many issues it is evident that technological progress allows more efficient production and better goods and services, which is what prosperity depends on, developing countries usually focus more on adoption of technology instead of innovating due to insufficient capital but, adoption of technology and the products developed by the advanced countries is not an easy task. The industrially-advanced countries are backed by large markets, high incomes, abundant capital resources, good managerial and technical skills, while less developed countries have small incomes, shortage of capital, abundant unskilled labor. The advance technology, therefore, cannot be opted for these countries and instead of realizing the fact that, “Rapid increase in supply is possible with the help of technology to match the increased demand with the help of technology and removes the danger of inflation” (Keynes).

There is a pressure on developing countries to adopt appropriate technology which is based upon the need for providing employment and according to the stage of development and within the prevailing economic policy framework of the country.

Countries like USA, China, Malaysia and Japan that have invested sufficiently in promoting emerging technologies over the past decade are the ones that have developed successfully. India is also thriving in the technology industry and successfully establishes their Indian silicon valley in Bangalore and providing special rebates and incentives, tax holidays and other facilities to their local industries related to technology and for achieving its goal they are striving hard for the last 20 years and invest in this sector of economythrough R&D activities.

In comparison, Pakistan is lagging behind in terms of technology. We have a polarized democracy and inefficient governance system which contribute to overall poor human development conditions and less educational opportunities, and the state does not priorities to scale up new technologies. Today, we live in a completely transformed and different world, which is overwhelmed with hordes of information, communication and technology.

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Pakistan’s progress in technology: challenges ahead

Urooj Aijaz April 8, 2019 Cover Stories 268 Views

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We now live in the era of rapid globalization and unprecedented advancement in technology. Technology has become a yardstick for a country’s socio-economic development and it is widely accepted that technology is the key driver of economic growth of countries. It plays a strong role not only in increasing productivity but also provides better living standard, rapid increase in supply, improved trade, advancement in infrastructure, low wastages of resources, minimizing cost, overcome vicious circle of poverty, improving the quality etc. but having lots of benefits some are the issues too involved in either advancement or adoption of technology like diffusion of technology, burden of high import cost of technology instead of having lack of capital and inefficient administration but instead of having many issues it is evident that technological progress allows more efficient production and better goods and services, which is what prosperity depends on, developing countries usually focus more on adoption of technology instead of innovating due to insufficient capital but, adoption of technology and the products developed by the advanced countries is not an easy task. The industrially-advanced countries are backed by large markets, high incomes, abundant capital resources, good managerial and technical skills, while less developed countries have small incomes, shortage of capital, abundant unskilled labor. The advance technology, therefore, cannot be opted for these countries and instead of realizing the fact that, “Rapid increase in supply is possible with the help of technology to match the increased demand with the help of technology and removes the danger of inflation” (Keynes).

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There is a pressure on developing countries to adopt appropriate technology which is based upon the need for providing employment and according to the stage of development and within the prevailing economic policy framework of the country.

Countries like USA, China, Malaysia and Japan that have invested sufficiently in promoting emerging technologies over the past decade are the ones that have developed successfully. India is also thriving in the technology industry and successfully establishes their Indian silicon valley in Bangalore and providing special rebates and incentives, tax holidays and other facilities to their local industries related to technology and for achieving its goal they are striving hard for the last 20 years and invest in this sector of economythrough R&D activities.

In comparison, Pakistan is lagging behind in terms of technology. We have a polarized democracy and inefficient governance system which contribute to overall poor human development conditions and less educational opportunities, and the state does not priorities to scale up new technologies. Today, we live in a completely transformed and different world, which is overwhelmed with hordes of information, communication and technology.

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“Advancement in technology has changed everything; our values, ethics, education, businesses, trades, democratic processes and even the way we think.”

If we wants to compete with the entire world Pakistan needs to invest more and more in education and R&D activities so, that we are not only able take benefit from imitating technology but also able to innovate for which government should take certain measures, which ease adoption and innovation of technology which includes, more guidance, educational facilities, availability of infrastructure, services and training centers, skilled labor force, tax rebates, efficient capital market and more amount to be allocated to this sector which guarantee harmonized growth and improvement in each and every sector of economy.

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