ISLAMABAD: Proper formulation and implementation of the skill development process will promote economic expansion in the country, financial experts said.
Hafsa Dar, a representative from the Economic Affairs Division, told WealthPK that sustainable economic growth and social development are closely linked to human resource development, market-oriented professional skills, and technical education.
“Pakistan needs to bridge the skills gap between its youth’s workforce and the demand of rising technology and automation markets,” she added.
The demand for information technology (IT) specialists, highly advanced digital skills, and well-trained resource persons has expanded significantly, according to Dr. Mahmood Khalid, Research Economist at Pakistan Institute of Development Economics (PIDE).
He said that with required training and professional skills, qualified persons can fully explore both domestic and international marketplaces.
According to research economists, education sector has to be streamlined in accordance with modern trends and objectives. Degrees need to be offered in a wide range of disciplines including agricultural technology, electrical engineering, furniture production, home-made embroidery, and communication skills.
“Large-scale technical education programs can multiply remittances by creating a promising skilled workforce,” he continued.
Mustansar Aitzaz, a lecturer at Allama Iqbal Open University (AIOU), stated that the nation needs market-oriented skills, professional training, cutting-edge technology, and innovative approaches to cope with the rising issue of unemployment.
“We are falling behind in the race of technical education as people worldwide are acquiring knowledge about artificial intelligence and robotics,” he said.
“Skill development will address the current skill gaps, and pave the way for creating a future-ready workforce. The government needs to launch a mass awareness campaign regarding technical education in the country,” he stated.
Development in skillsets has boosted employment, enhanced long-term competitiveness, improved access to innovation, and increased productivity, all of which have supported economic growth in developed countries.
