My Packard Bell PC is fitted with a NVidia 7050 GPU which i am told is a PCI Express X16 Card Interface.

My question is can a PCI Express or PCI Express 2.0 type of Video card be fitted?

Wikipedia

PCIe 2.0 cards have good backward compatibility, new PCIe 2.0 graphics cards are compatible with PCIe 1.1 motherboards, meaning that they will run on them using the available bandwidth of PCI Express 1.1. Overall, graphic cards or motherboards designed for v 2.0 will be able to work with the other being v 1.1 or v 1.0.

This is saying that a PCIe 2.0 card will work on a PCIe 1.0/1.1 slot but it won't perform as well as it would in a 2.0 slot because these slots aren't as fast as a 2.0 slot. Does this answer your question?

Note in the overview section there is a picture of a PCIe x16 slot. Compare the size of the slot as compared to that of an PCI or AGP slot [the AGP slot is the dark red slot on the top] to determine what kind of slot you have or look in the owner's manual. Don't worry about the color of your slots as it might differ from model to model. If you bought or built your computer in the last 4-5 years you will more than likely have a PCIe slot but don't hold me to that. It will have PCI slots but the question is whether or not the slot intended for a graphics card is an AGP of PCIe. It is at the very least the slot at the top that will be either PCIe or AGP. Don't even consider a PCI card because you are probably better off sticking with what you got. Is this TMI?

Once you install a new graphics card and verified that it works you will need to go into the BIOS by hitting F2, F10, or the delete key and figure out how to DISABLE the on board video. Again see your owner's manual.