ISLAMABAD: Pakistan ranks 99th among the 132 economies featured in the Global Innovation Index (GII), which classifies world economies according to their innovation capabilities.
Consisting of roughly 80 indicators, grouped into innovation inputs and outputs, the GII aims to capture the multi-dimensional facets of innovation.
The GII is published by the World Intellectual Property Organization (WIPO), a specialized agency of the United Nations.
Recognizing that innovation is a key driver of economic development, the GII aims to provide an innovation ranking and rich analysis referencing around 130 economies. Over the last decade, the GII has established itself as both a leading reference on innovation and a “tool for action” for economies that incorporate the GII into their innovation agendas.
Pakistan’s ranking on the index was 107 in 2020 and 105 in 2019.
“Pakistan ranks 17th among the 34 lower middle-income group economies,” the GII report said. “Pakistan ranks 7th among the 10 economies in Central and Southern Asia.”
The report said Pakistan has performed above the lower middle-income group average in four pillars, namely: institutions, business sophistication, knowledge and technology outputs, and creative outputs. In Central and Southern Asia, Pakistan performed above the regional average in the same four pillars.
The index is a ranking of the innovation capabilities and results of world economies. It measures innovation based on criteria that include institutions, human capital and research, infrastructure, credit, investment, linkages; the creation, absorption and diffusion of knowledge and creative outputs.
Pakistan ranks 99 among 132 economies featured in the Global Innovation Index
https://arab.news/p5gy2
Pakistan ranks 99 among 132 economies featured in the Global Innovation Index
- GII is published by the World Intellectual Property Organization, a specialized agency of the United Nations
- Pakistan ranks 17th among 34 lower middle-income group economies, 7th among 10 economies in Central, Southern Asia
Pakistan Super League expands with two new cricket teams sold at record prices
- Hyderabad and Sialkot franchises bought for a combine $12.75 million at PCB auction
- US-based aviation and healthcare group, local real estate consortium among winning bids
ISLAMABAD: Hyderabad and Sialkot will join the eleventh edition of the Pakistan Super League (PSL) as its latest franchises after they were bought for record prices at an auction organized by the Pakistan Cricket Board (PCB) on Thursday.
The PCB had shortlisted 10 bidders for the live auction held at Islamabad’s Jinnah Convention Center on Thursday evening. FKS, an aviation and health care conglomerate based in the US who also run the Chicago Kingsmen team, bought the Hyderabad franchise for a whopping Rs1.75 billion [$6.2 million].
The other winner was OZ Developers, a real estate consortium, which bought the Sialkot franchise for Rs1.85 billion [$6.55 million] at the auction. Both prices were the highest amount paid for a PSL franchise.
“The New Era is here like never before,” the PCB wrote on social media platform X.
“Hyderabad and Sialkot are the two new teams in #HBLPSL!“
Pakistan’s telecommunications giant Jazz and Inverex Group, a leading player in the solar energy sector, were also among the 10 qualified bidders.
The PSL is Pakistan’s premier T20 cricket league which features a mix of local and international players. The league already has six city-based teams which include Karachi Kings, Multan Sultans, Lahore Qalandars, Islamabad United, Peshawar Zalmi and Quetta Gladiators.
PCB will run the Multan Sultans team for the 11th edition before looking for a potential buyer. The previous owner of Multan Sultans, Ali Tareen, announced last month he was walking away from his ownership of the franchise.
The decision came after a bitter public spat between Tareen and the PCB over how it managed the cricket league.
The 11th edition of the league is set to begin from Mar. 26 while the final is expected to be played on May 3, as per the PCB’s schedule.
