[🇵🇰] Pakistan: Human capital development

[Old School]

Source : https://www.dawn.com/news/1784094#:~:text=Pakistan's%20HCI%20level%20in%202020,World%20Bank%20prepared%20the%20HCI.

ACCORDING to economist Julian Simon, “the ultimate resource is people — especially skilled, spirited, and hopeful young people endowed with liberty — who will exert their wills and imaginations for their own benefits, and so inevitably they will benefit the rest of us as well”.
Pakistan’s HCI level in 2020 was 0.41, which means that a child born in Pakistan will be only 41 per cent as productive as she could be when she grows up if she enjoyed complete education and full health.
Pakistan fares very poorly in comparison to the 130 countries for which the World Bank prepared the HCI. It ranks 118 and its HCI is the lowest in South Asia, which has an HCI average of 0.48.
It is imperative to invest more in human capital to promote growth and development in Pakistan.
Given this dismal situation, it is imperative to invest more in human capital to promote growth and development in Pakistan. This, however, cannot be done with our very low expenditure on education and health. According to the Pakistan Economic Survey, FY23, expenditure on education was only 1.7pc of GDP, and health 1.4pc. Not only is expenditure on education low, it has actually declined from 2.1pc of GDP in FY18 to 1.7pc in FY23. We are regressing on investing in education.

If the government focuses only on two areas, it can increase its human capital in a few years. First is the provision of clean drinking piped water to its citizens; second is increasing enrolment rates for primary education. The provision of clean drinking water will reduce many diseases, lower infant and child mortality and increase adult survival rates. More investment in primary education will reduce dropout rates from primary school and enable more students to complete secondary and post-secondary education.
According to the World Bank, the net primary enrolment rate in Pakistan was 68pc in FY18, which, going by the Pakistan Social and Living Standards Measurement survey, FY20, decreased to 64pc in FY19.

The World Bank asserts: “With over 20 million school-age children out of school, high levels of child malnutrition, and low empowerment of women, Pakistan’s human capital challenges are among the most serious in the world — it is a human capital crisis that is profound, silent and with far-reaching negative effects on the potential of the country and its people.”

Pakistan’s investment rate was extremely low at 13.6pc of GDP in FY23. It has also declined over the years. Aggregate consumption was almost 98pc of GDP. There is obviously an urgent need to increase investment.
If the government alters its priorities towards more investment in human capital, it will increase overall investment and promote economic growth and development on a sustainable basis.

 

[Old School]

 

[Mkesath]

ACCORDING to economist Julian Simon, “the ultimate resource is people — especially skilled, spirited, and hopeful young people endowed with liberty — who will exert their wills and imaginations for their own benefits, and so inevitably they will benefit the rest of us as well”.
Pakistan’s HCI level in 2020 was 0.41, which means that a child born in Pakistan will be only 41 per cent as productive as she could be when she grows up if she enjoyed complete education and full health.
Pakistan fares very poorly in comparison to the 130 countries for which the World Bank prepared the HCI. It ranks 118 and its HCI is the lowest in South Asia, which has an HCI average of 0.48.
It is imperative to invest more in human capital to promote growth and development in Pakistan.
Given this dismal situation, it is imperative to invest more in human capital to promote growth and development in Pakistan. This, however, cannot be done with our very low expenditure on education and health. According to the Pakistan Economic Survey, FY23, expenditure on education was only 1.7pc of GDP, and health 1.4pc. Not only is expenditure on education low, it has actually declined from 2.1pc of GDP in FY18 to 1.7pc in FY23. We are regressing on investing in education.

If the government focuses only on two areas, it can increase its human capital in a few years. First is the provision of clean drinking piped water to its citizens; second is increasing enrolment rates for primary education. The provision of clean drinking water will reduce many diseases, lower infant and child mortality and increase adult survival rates. More investment in primary education will reduce dropout rates from primary school and enable more students to complete secondary and post-secondary education.
According to the World Bank, the net primary enrolment rate in Pakistan was 68pc in FY18, which, going by the Pakistan Social and Living Standards Measurement survey, FY20, decreased to 64pc in FY19.

The World Bank asserts: “With over 20 million school-age children out of school, high levels of child malnutrition, and low empowerment of women, Pakistan’s human capital challenges are among the most serious in the world — it is a human capital crisis that is profound, silent and with far-reaching negative effects on the potential of the country and its people.”

Pakistan’s investment rate was extremely low at 13.6pc of GDP in FY23. It has also declined over the years. Aggregate consumption was almost 98pc of GDP. There is obviously an urgent need to increase investment.
If the government alters its priorities towards more investment in human capital, it will increase overall investment and promote economic growth and development on a sustainable basis.

Sad to see were the worst in South asia

 

[Old School]

Sad to see were the worst in South asia

Yes. Its a mission impossible. However, unlike many defective countries, we aren’t blind. We do acknowledge our shortcomings.