The key to sustainable development for any country lies in its economic stability that in turns require an education system that aims toward development of entrepreneurial skills of the youth. It is the combination of, on the one hand, private sector resources, drive and entrepreneurial talent and, on the other hand, of a policy, legal, and regulatory framework and environment which emphasises fairness, social cohesion and transparency.
In the past 64 years, we have seen the emergence of some good business universities in Pakistan - LUMS and IBA being just the two prominent examples. Yet, the brain drain continues - students with above average caliber coupled with resources opt for foreign universities especially for business majors' degree. Few return to serve the country while most either stay back or at least wish to do so.
In Pakistan, renewed and sustained economic growth will require a bold reform program over the next 3-5 years. The present environment offers a wealth of new economic opportunities but also considerable risks. However, opportunities can be best exploited and risks minimised through effective partnerships between the public and private sector. Today, a considerable social and infrastructure investment in Pakistan comes from public finances and the need is to encourage the private sector, not just to supplement the monetary requirements but more importantly for their professional expertise and management techniques. It is important to encourage the young business graduates to develop and evolve new business models and strategies to further exploit untapped opportunities and resources.