Minister Iqbal Stresses the Importance of Data as the Fuel of the Modern Economy | Policy Instability Since 2018 Cited as Major Obstacle to Economic Growth

Islamabad: The Federal Minister for Planning, Development and Special Initiatives, Prof Ahsan Iqbal, addressed the inaugural session of a high-level policy dialogue organized by the Sustainable Development Policy Institute (SDPI) on the theme “Effective Public-Based Development Planning in Pakistan.” The event, held in Islamabad, was attended by policy experts, development partners, representatives from academia, civil society, and the media.

In his opening remarks, Minister Iqbal underscored the transformative power of data in the contemporary digital age. “Data has replaced oil as a strategic resource,” he stated. “It is the fuel of the digital revolution, rapidly reshaping societies and economies worldwide.”

The Minister highlighted Pakistan’s pioneering efforts in data utilization, tracing back to the establishment of the National Database Organization in 1998, now known as NADRA. He emphasized the importance of integrating data availability and usage into national priorities to propel development.

Federal Minister Mr. Ahsan Iqbal stated that, to propel Pakistan into the digital revolution, the government established several advanced technology centers between 2016 and 2018. These include the National Center of Excellence for Big Data and Cloud Computing, the National Center for Artificial Intelligence, the National Center for Cyber Security, the National Center for Robotics and Automation, the National Center for Applied Mathematics, and the National Center for Satellite Technology and GIS. Additionally, he mentioned the distribution of millions of laptops to youth, facilitating their participation in the digital economy and making Pakistan one of the leading countries in e-lancing.

However, the Minister also lamented the disruption in Pakistan’s development trajectory post-2018, attributing it to political instability and policy discontinuity. He called for a renewed focus on evidence-based planning, underscoring the necessity of data-driven policy making to ensure the efficient use of resources amidst economic challenges.

Addressing the critical issue of misinformation, Minister Iqbal highlighted its potential to cause societal chaos. He cited the World Economic Forum’s identification of misinformation as a top global risk, advocating for robust mechanisms to validate information and prevent the spread of falsehoods. He shared a personal anecdote about surviving an assassination attempt fueled by politically motivated misinformation, emphasizing the urgent need to counteract such dangers.

In conclusion, Minister Iqbal reiterated the government’s commitment to sustainable development through strategic data utilization and policy reforms. He emphasized the importance of peace, stability, policy continuity, and continuous reform for national progress. “Pakistan has the potential to become one of the world’s top economies by 2047,” he asserted. “To achieve this, we must work as a team, ensuring stability and implementing effective policies.”

The Minister congratulated SDPI for organizing the dialogue and assured them of the government’s support in implementing the five E’s framework—enhancing exports, creating a knowledge economy, addressing environmental challenges, ensuring energy and infrastructure development, and promoting equitable growth.

The event concluded with a call to action for all stakeholders to collaborate in leveraging data for national development and safeguarding against the perils of misinformation.