‘IT development to put economy on track’

BEIJING: The development of information technology industry can put Pakistan’s economy on the track of fast development for prosperity and enhancement of the comprehensive national strength, a Chinese scholar said on Saturday.

“The information industry has become the driving force for the economic development of all countries in the world,” Cheng Xizhong, special commentator of news website China Economic Net said. “Therefore, the development of information technology industry can put Pakistan’s economy on the track of fast development for prosperity and enhancement of the comprehensive national strength."

Xizhong, who is also a visiting professor at Southwest University of Political Science and Law said the global information industry is currently growing at a rate of 30 percent. At present, Pakistan’s export value of information technology products and services is about $1 billion.

On measures for IT sector growth, Xizhong said Prime Minister Imran Khan convened a meeting earlier this month to study urgent measures to drive information technology development. Experts put forward five measures first to encourage small and medium-sized enterprises to develop national information technology, to publicise the international image of technology investment environment, to build five information technology special zones to promote the export of information technology, to formulate 5G plan and develop telecommunications infrastructure and fifth to adjust the tax policies to make them more reasonable for export of information technology products and services.

Xizhong said with electronic technology and information service as the development core, information technology industry has gradually become an important standard for a country’s comprehensive strength.

“At present, many countries in the world regard information industry as a pillar to promote economic and social development,” the writer said. “At the same time, the information industry can effectively promote the adjustment of industrial structure, bring new development mode to the economy, and provide necessary conditions for sustainable development.”

Xizhong said the impact of information technology industry on the development of national economy is mainly reflected in the following five aspects.

“Information industry plays a softening role in the development of national economy, which is mainly reflected in the softening effect on industrial structure, employment structure and consumption structure,” he said.

“The advanced technology and equipment and excellent information environment brought by the information industry can make significant changes in the production, sales and management of many traditional industries.”

Information industry can not only create social value independently, but also penetrate into other industries, drive the development of other industries, and then upgrade the whole economic system.

Xizhong said information is the key factor for modern production, which lays the foundation of modern productivity together with capital and labour force.