Digitalisation key to efficient economy: PFC
The launch of satellite internet in Pakistan is set to revolutionise the digital ecosystem, with the top global operators, including Starlink, preparing to roll out high-speed connectivity. photo: REUTERS
Pakistan Furniture Council (PFC) Chief Executive Officer Mian Kashif Ashfaq has said that digitalisation is the cornerstone of establishing a transparent, accountable, and efficient economy.
Chairing a meeting of the PFC Board of Directors on Saturday, he emphasised that the adoption of modern digital tools and technologies not only enhances transparency in financial transactions but also plays a vital role in curbing corruption, reducing inefficiencies, and facilitating ease of doing business.
He urged the government to give top priority to the digital transformation of key sectors, particularly taxation, trade, and industry, to help integrate informal businesses into the formal economic framework.
"A digitally driven economy fosters trust and confidence among both domestic and foreign investors, which is crucial for economic growth and long-term sustainability," he added.
Ashfaq highlighted that digitalisation enables real-time data collection and analysis, allowing for more informed and effective policymaking. He pointed out that such advancements could significantly improve tax compliance and expand the tax base without placing an additional burden on current taxpayers.
While appreciating recent government initiatives in digital payments and e-commerce regulation, he called for their swift and broad implementation across all sectors.
He also stressed the importance of robust public-private partnerships to accelerate digital adoption and enhance capacity building, especially at the grassroots level.
"Only through a strong and digitally integrated economy can Pakistan compete effectively on the global stage, boost its exports, and unlock its full economic potential," he concluded.