News of job cuts:
Monitoring Desk of Islamabad (here Monitoring Desk refers to the "department" or team that collects real-time information from social media, news, outlets, technology, and other places) and is global. A group of digital media companies known as the "Asia Internet Coalition" (AIC) has raised questions about data localization in Pakistan, saying that the data protection bill is causing unemployment, business loss, and economic development in the country. I can cause slowness.
What is data localization?
Data Localization refers to transferring personal information, name, location, transaction data, medical results, bank account details, credit card information from a specific place or country to outside the country without permission. .
Big blow to Pakistan's GPT:
The Asian Internet Coalition (AIC) warned in the "Data Localization Report in Pakistan" that if the 2023 "Personal Data Protection" is implemented again in Pakistan in 2024, the implementation of the Data Protection Bill will result in 32 lakh There is also a fear of losing jobs and this can cause a loss of 16 and a half billion dollars to the GTP of the country in 1 year and along with this, the labor productivity will decrease by 14.7%.
Cyber security risks may also increase due to data localization. In addition, the strategic positioning of IT/ITES sectors may be affected by these laws, resulting in negative investment and development of these sectors. There will be effects. An IT company estimates a 70% increase in hosting costs as a result of data localization.
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