Technological Advancement Vital For Defence, Economic Growth: Iftikhar Malik

LAHORE, (UrduPoint / Pakistan Point News - 18th May, 2025) SAARC Chamber of Commerce and Industry former President Iftikhar Ali Malik emphasized that in today’s rapidly changing global environment, technological advancement is essential not only for military preparedness but also for achieving sustainable economic growth.

Talking to a delegation of industrialists, including Convener of the FPCCI Regional Committee on food Shahid Imran, Coordinator to the Federal Tax Ombudsman Saif Ur Rehman, and former FPCCI Vice President Mian Zahid Iqbal, her on Sunday, he said that the widening gap between technologically advanced nations and developing countries poses serious threats to both national security and economic sovereignty.

He stressed that investment in research and development (R&D), innovation, and modern industrial practices is critical to staying competitive on the global stage. “Acquiring and mastering modern technology is no longer optional; it is a strategic necessity, especially in light of rising Pak-India tensions and the demands of economic progress,” he said.

Iftikhar Ali Malik urged policymakers to act swiftly to ensure Pakistan does not fall further behind in the global technology race. He called for robust public-private partnerships and enhanced regional cooperation to encourage technological exchange, foster innovation, and reduce reliance on foreign technologies.

He also emphasized the need for a tech-friendly entrepreneurial ecosystem, heavy investment in science and technology education, and the nurturing of indigenous talent. “Only by empowering our youths and professionals in emerging fields like artificial intelligence, cybersecurity, and advanced manufacturing can we strengthen both our economy and national defence,” he noted.

He pointed out that nations prioritizing technological innovation have achieved substantial GDP growth, higher living standards, and greater global influence. He underscored the urgency for Pakistan to adopt a proactive approach in embracing cutting-edge technologies to secure its future.