An acute case of an employment crisis is besetting Pakistan as the country’s youth continues to mushroom in number. ARY News reports that besides hindering economic development, the unfavorable economic situation is further complicating the crisis by slowing down job creation.
The Planning Commission recently addressed the Senate Committee on Planning where it highlighted that tough economic conditions are being witnessed in the country. Unemployment, especially amongst the youth, is rapidly going up in the country, it was further pointed out during the briefing. At the meeting, officials also noted that slow growth of the economy, a fast increase in population, and an unavailability of job opportunities are major hiccups towards the country’s development.
Chairperson Quratul Ain expressed serious concern over the increasing population at an alarming rate. She called for “immediate measures to contain the surge to reduce or soften the impact of this population explosion on the economy, which is already under stress.” The Planning Commission explained that Pakistan’s GDP growth rate currently stands at 3.5 percent, quite short of the desirable 7 percent required for sustainable economic development.
The Planning Commission of Pakistan presented its five-year plan on these issues. Technology utilization, tourism opportunities, and higher agricultural production are the main considerations of this proposed plan. Officials believe foreign investment, proper governance in the energy sector. And industrialization are crucial inputs for this country to reach economic stabilization.
The policy has also emphasized private sector investment and the upgradation of the Small and Medium-sized Enterprises sector. All these can lead to the reduction of poverty, human resources upgradation, as well as institutional reforms in Pakistan.
Earlier, members of Jamaat-e-Islami Pakistan staged a protest in Karachi against rising inflation and heavy taxes. The protesters say that such economic pressures have brought debilitating effects on the livelihoods of their families. Protesters blame the government for imposing heavy taxes on basic commodities and services, which they say exacerbate their financial burdens.
As one protester put it: “The only tragedy in Karachi is heavy taxes and expensive electricity. We are fed up with these baseless taxes and skyrocketing inflation, which have forced us to take to the streets. The government is responsible for our plight.”
She further explained that utility bills, which hitherto cost only hundreds of rupees, have now risen to thousands because of inflation and taxes. She said that some people faced the unbearable choice of paying for their children’s education, buying food for their families, or covering utility bills. The situation has driven so many people to such a point whereby some contemplate suicide because of their financial position.
The financial cost has also significantly reduced household expenditure on necessities. Families can hardly afford education or basic needs; this again shows the dire need for successful economic reforms.
Overall, Pakistan has become a multi-dimensional crisis. A growing percentage of youth are exacerbating the factor of unemployment. While weak economic governance and heavy taxation compound the misery elements. Those are the core factors of the growth plan advocated by the government to bridge the gap. That will call for urgent and effective action only if economic pressures are to be smoothened. And a brighter future ushered for the youth and larger population of Pakistan.
ANI
