Special Assistant to Prime Minister on Overseas Pakistanis & Human Resource Development, Zulfikar Bukhari on Tuesday acknowledged a massive drop in Pakistan's labour export and stated that the country is lagging behind even from Bangladesh in terms of productivity of labour.
Speaking at the panel discussion at the World Bank Human Capital Summit, the advisor stated that Pakistan labour exports had dropped from 0.9 million to 0.35 million during the last four years and a huge decline of around 0.5 million in labour export was from Saudi Arabia, said Bukhari, adding that the government is now focusing on increasing Pakistan work force abroad.
He also stated that there is a need of urgent and total revamp of education system, adding that a uniform syllabus should be implemented across the country as is in the United Kingdom and other countries. "It's not about making investment in human resources but its management and addressing structural challenges," he added.
Regional Vice President for South Asia, World Bank Group, Hartwig Schafer stated that as the world's 5th most populated country, Pakistan's human capital potential is huge but remains largely untapped. Investment in human capital is a challenge. Investment in human capital carries a high cost but it is more important than past. Further the return is not immediately visible, said Schafer, adding, "It will take several years before you see the results but it has the highest economic rate of returns."
Vice President Human Development, World Bank Group, Annette Dixon stated that improving human capital requires sustained support over time and continuous effort and perseverance. "I commend Pakistan for making it a priority going forward and we stand ready to support the country to achieve its development goals for all its people," Dixon said, adding that rapid progress in human capital for Pakistan is possible but requires more and better investment in health & education in early years and addressing inequality in services between genders, regions and socio-economic groups.
Dixon further said that investing in people is the right thing to do and there is irrefutable evidence that it is also the smart thing to do. No country can prosper without first investing in its people. This is even more important than investing in infrastructure development, he said.
The WB representative said that in developed countries, human capital makes up 70% of their wealth, whereas it makes up only 40% of developing countries' wealth.
"Indeed, investing in nutrition, healthcare, education, jobs and skills, and ensuring that all Pakistanis are equipped to thrive in the 21st century are the best investments your government can make," he said.
The UN Resident Coordinator Neil Buhne stated that investments in youth, by providing them quality education, quality employment & meaningful engagement opportunities are amongst the best investments in Pakistan's future.