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World Bank Evaluates $78M Digital Economy Enhancement for Pakistan

World Bank Evaluates Digital Economy Enhancement for Pakistan-realtorspk

The World Bank’s Board of Executive Directors is slated to review a significant initiative, the $78 million “Pakistan: Digital Economy Enhancement Project (DEEP).”

This endeavor aims to upgrade the government’s digital service delivery to both individuals and businesses. By focusing on expanding broadband access and reducing the digital divide, DEEP intends to foster a more inclusive digital environment across Pakistan. It also seeks to enhance the regulatory and policy framework to support the digital economy’s growth.

Technical assistance will be provided to key institutions such as the Ministry of Information Technology and Telecommunication (MoITT), NADRA, and the Board of Investment (BoI), among others. A standout feature of the project is the development of a secure data exchange layer by NADRA, which will facilitate information sharing between government agencies and offer a digital wallet for citizens. This initiative is aligned with the goals of the 2018 Digital Pakistan Policy, emphasizing the integration of government databases and the promotion of e-government services.

The project is structured around three primary components: enhancing the digital economy and governance, establishing the Pakistan Business Portal for streamlined business regulatory processes, and effective project management through the creation of Project Management Units (PMU). These components are designed to address various challenges, including regulatory and market failures in connectivity infrastructure and the need for digital transformation in governmental operations.

Despite Pakistan’s progress in digital transformation, with increased internet usage and demand for digital services, challenges persist due to the lack of interoperability and comprehensive digital government services. The initiative not only aims to improve digital transactions and user satisfaction but also addresses broader economic issues, including the impact of recent natural disasters on the economy and the need for productivity-enhancing investments. For the latest Real Estate News and Blogs, visit Realtorspk blogs.

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