Pakistan Need to Move Towards Digitization
Pakistan’s growing Digital Market
In a white paper published in Think with Google, Pakistan was identified among the fastest growing digital countries in the world, and is making its presence known in the global arena. The reasoning behind Pakistan’s meteoric rise in the digital market, is in part due to its burgeoning population.
With the rise in population also comes a flock of new smartphone users, with indigenous mobile companies rushing to release their more affordable smartphones for the masses. Currently, internet penetration in Pakistan is only at 30%, which indicates the huge room there is for this particular market to expand.
The country’s economy is driven by entrepreneurship from the smallest scale, attributed in part to SMEs. The SECP registered over 1000 companies in July of 2018, indicating that SMEs are vital to the economy.
With the huge success of Careem, other e-commerce and online businesses are popping up. The most popular among them are FoodPanda and Daraz (to name a few). With such huge potential, Pakistan is currently in the top five growth markets for the connectivity industry. The average businessman is realizing the huge market that they can tap into, and an increasing number of businesses are moving towards innovative online solutions.
While the market is currently flourishing, there is still a lot of room for improvement. Simply put, in order for the digital sector to flourish in Pakistan, steps must be taken by the Pakistani Government to ensure the continuous development and innovation of the digital economy. This can be accomplished by (among other things) nurturing the digital skill-set of the youth.
With huge strides being taken to improve the infrastructure for the Belt and Road Initiative (BRI), the digital landscape should not be left untouched. Rather, the move of SME’s, the main drivers of the economy, to more digital friendly content can harness unknown avenues of growth.
Improving the Digital Landscape in Pakistan
Clearly, the benefits of digitization can speak for themselves. Yet despite this, Pakistan’s digital infrastructure is lacking. Keeping in line with the international pace, Pakistan desperately needs to push itself into maximum overdrive. Some key things to help improve the digital landscape can include:
- A comprehensive digital transformation plan
By using a consultative model, and involving stakeholders with cross industry experience, some doable goals can be put in place
- Creative and Adaptive technologies
Existent technology needs to be molded to increase engagement of a larger share of current demographics
- Linking local transformation to Global trends
By linking global economic opportunities to local entrepreneurs across industry sectors, optimal benefits can be derived from each stage of digitization
- Identifying the potential for digitization
Digitally enhancing existing processes, as well as redefining long-term possibilities can lead to short-term benefits
- Adopting a digital first mindset
Placing the digital engagement approach ahead of a “product-first” approach helps change the current, myopic mindset
In today’s fast-paced world, the necessity to move towards digitization is making itself known. It is therefore imperative that we recognize how a few steps taken in the right direction can vastly improve the outcome of a Digital Skilled Pakistan.