Qudsia Bano

Digital transformation is gaining momentum in Pakistan, as experts and industry insiders increasingly recognize its critical role in boosting economic growth, improving transparency, and promoting good governance, reports WealthPK.

The latest push came during a board meeting of the Pakistan Furniture Council (PFC), where its leadership stressed the importance of adopting modern digital tools across all sectors of the economy. They argued that digitalisation not only helps streamline financial transactions and enhance efficiency but also plays a key role in curbing corruption, reducing leakages, and encouraging the formalization of informal businesses.

In turn, this supports sustainable development and builds investor confidence at both domestic and international levels. While some progress has been made, such as the growing adoption of digital payment systems and new regulations for e-commerce, experts believe much more needs to be done to bring meaningful change. Amna Khalid, a senior IT analyst at a Lahore-based software house, said digital tools can bring immense value to both small businesses and public services. 

“If integrated properly, digital systems can help track transactions in real time, cut down paperwork, and close gaps that often lead to financial mismanagement,” she said, adding that better access to digital infrastructure would allow small enterprises to enter formal channels and grow sustainably. Similarly, Faizan Abbasi, who works in finance compliance at an Islamabad-based industrial group, pointed out that tax compliance can improve significantly through digital systems. 

“Most businesses avoid tax filing because the system is complex and outdated. With automation and online platforms, things can be simplified, which will encourage more people to register and pay taxes,” he explained. Experts agreed that for digital transformation to succeed, the government must invest in building digital literacy, especially at the grassroots level.

There is also a need for strong public-private partnerships to design secure, user-friendly platforms accessible across all socioeconomic groups. Industry stakeholders urge the government to accelerate efforts for digitalising key sectors such as taxation, trade, and industry. With the right approach, Pakistan can modernize its economy, make institutions more accountable, and create an environment that supports long-term growth.

Credit: INP-WealthPk