technology should be applied to make health services available in all the remote areas.
Economist Faisal Qamar stressed that greater efforts are needed to promote innovators in Pakistan. He said science and research now offers more promises and rewards to the developing countries than ever before.
“Only we will have to analyze the quality of our institution because strong institutions would ensure changes in our society,” he added.
Qamar, however, expressed that mobile networks are only being used for nonproductive work by majority of the subscribers, “only few are benefiting from mobile revolution as the institutions regulating the technology have never tried to create awareness about the social and economic benefits of the technology to the subscribers.”
He said technology is changing the world with much more vigor than the industrial revolution of late 19th century and there is still time to engage our youth in gainful employment.
“We would ruin our economy if we fail to keep pace with the technology which is changing at a mega speed,” he warned, adding that that the days are gone when an employee used to spend his entire life with a single employer. He said employers would no more act as insurance for lifelong work. Instead, the state will have to get prepared for the fact that more of the economy ultimately is going to be in health and education than has been the case traditionally. Thus, there will be a need for more progressive taxation as well, he added.
Qamar said the state would have to come out of the public appeasing mode and should focus on raising the demand for capital and stimulating investment. For that, the spending on meaningful public sector infrastructures should be increased and government borrowing should be limited to infrastructure projects that will boost economy and quality of lives of masses, he added.
Certified Public Accountant Asif Ali Shahid said the development plans should be in line with realities of 21st century. Transporting oil through trains is a thing of the past, now the country needs investment in pipeline infrastructure, the trains should be spared for transport of capital goods at low cost, he said, adding, “We need much more broadband devices then what we have available and this should be done urgently.” From the private sector, Pakistan needs commitment to investment on a large scale, he said, further adding that this commitment would only come if they have confidence in the government policies.