Syed Mazhar Nasir representing FPCCI at summit to celebrate the 70 years of diplomatic ties between Pakistan and Egypt

Cairo: Senior Vice President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Syed Mazhar Nasir who is representing FPCCI at a two-day summit to celebrate the 70 years of diplomatic ties between Pakistan and Egypt being held in Cairo highlighted the efforts of the Pakistan Government in meeting the challenges of the Digital Revolution.

While addressing the Plenary Session he said it was encouraging to note that the Government of Pakistan had taken initiative to promote digital technology with advanced concepts and components for the rapid delivery of next-generation digital services, application and content to transform Pakistan into a knowledge-based economy, making IT the top contributor to Pakistan’s exports and job creation.

Expressing his views on the changing business trend he said that 4th Industrial Revolution had transformed the world and changed the business process and skill-set of the industry so there was a dire need to educate and help the business community of the country in finding ways as how to get prepared for this phenomenon in order to be competitive in the foreign market and industry.

He said that in order to compete with the foreign market and industry modernization of information technology was an absolute must. Encouragingly enough Pakistan had 40 million internet subscribers and 20 million Facebook users and the use of digital technology is growing which is a positive indicator, he remarked.

Further elaborating the point he said that mobile phone service in Pakistan covered 92 percent area while the users are 72 percent of the total population which include 30 percent broadband subscribers and 28 percent 3G/4G subscribers and the users were gradually picking up the use of technology in mobile money, banking transactions, retail trade, online shopping, utility transfers, education and health, transfers of funds, communication through e-mail.etc.

Mazhar Nasir warned that the E-commerce might pose different challenges and risks like fraud and cyber crimes because of the absence of physical presence but then Pakistan was fully equipped to face the challenge.

He said that the digital revolution was transforming everything in the world from manufacturing to marketing and exposing the companies to new ideas, technologies, new management and business models which required specialized and trained personnel capable of handling with its application.