Islamabad : Brig. (retd) Aslam Khan, Chairman of Pakistan Economy Watch (PEW) said on Thursday that Pakistan is blessed with a sizeable youth population which can be of great economic benefit.
However, he said, such a youth population is a great window of opportunity that is not being taken advantage of otherwise Pakistan’s economic situation would have been different.
Aslam Khan said in a statement today that it is imperative to take prompt action to take advantage of this prospect since its loss could have far-reaching consequences.
He said that 240 million people are living in Pakistan, and the country’s population is expanding steadily at a pace of 2 per cent. In contrast, the population growth in the South Asian region is 1.2 per cent.
Based on estimates, 38% of Pakistan’s population is under 15 years old, while 4% is 65 years of age or more. This results in a youth bulge since 58 per cent of those in the working age group are between the ages of 15 and 64.
Despite this gift, the population is not benefiting us, which is why the unemployment rate is very high which is resulting in social problems, he observed.
He noted that numerous nations have successfully capitalised on the demographic dividend by augmenting their labour pool, improving savings rates, and building up a workforce that is well-educated and proficient.
With 159.83 million people anticipated to be in the working age group Pakistan’s population age structure makes it fundamentally a young nation. Now, one might wonder why Pakistan’s situation did not benefit from the youth bulge.
He said that what is even more concerning is the realisation that a sizable segment of our populace is still untrained and jobless, which may put them at higher risk of developing melancholy or engaging in criminal activity.
Therefore, it should not be shocking that a great number of people attempt to cross borders illegally, sometimes even at great personal risk.
On the other hand, the youth bulge element alone is a prescription for disaster since the unemployed, illiterate, and ignorant population poses a greater threat to the nation.
Decades have passed since we have failed to take advantage of this window of opportunity but it is never too late.
Nevertheless, by investing in our youth, we can lessen this situation’s risk.
