For a better tomorrow: Education, technology key to transform economy: experts

Two-day conference on building a knowledge-based economy under way

ISLAMABAD:

The entire education system needs to be reformed in order to create synergy and alignment between the country’s knowledge and production platforms.

These views were expressed by the Federal Minister for Planning and Development Ahsan Iqbal at a conference titled ‘Building a Knowledge Economy’ here on Wednesday.

The two-day conference has been organised by the Islamabad Policy Research Institute (IPRI) in collaboration with the Hanns Seidel Foundation (HSF).

Speaking as chief guest at the conference, Iqbal said the issue at the heart of building a knowledge-based economy is to find ways to create an environment which enables knowledge to become a productive force in creating tangible and intangible products and services.

Participants including economists, technical experts and policy professionals presented their research papers on building a knowledge-based economy, using modern technology and innovation in the textile industry, and revolutionising agriculture through science and technology.

IPRI President Sohail Amin said the economy had suffered due to turbulence created by terrorism and war. He noted that recent developments such as the China-Pakistan economic corridor have resulted in building confidence among international investors.

Amin said the gross domestic product is expected to rise from 4.24 to 4.7 per cent in 2016.

He stressed the need to adopt and learn best practices from around the world in developing a knowledge-based economy, adding that such an economy requires an educated and skilled population as well as an efficient innovation and technology adoption system.

HSF Resident Representative Kristof Duwaerts said the country is undergoing economic stabilisation, making it ready to implement knowledge-based interventions in its economic and production infrastructure.

“It is predicted that Pakistan is set to become the 18th most important economy by 2050. It will certainly not do so by relying on agriculture alone,” he said, adding that “One of the most important strategic decision for any country set to become a knowledge economy is the introduction of technological innovations and improving the educating system.”

IPRI announced that the papers presented during the conference will subsequently be published as a book.

Published in The Express Tribune, September 10^th, 2015.