Govt failed to focus on growth-oriented policy: PEW

The Pakistan Economy Watch (PEW) said on Friday that the government has failed to focus on growth-oriented policy in order to reduce the rising trend of unemployment in the country. Dr.Murtaza Mughal in a statement said the rate of country’s unemployment had increased to 6 percent this year whereas about 30 per cent of the people were unemployed. He said government should pay heed to labor intensives projects in order to reduce the unemployment in the country as it had been estimated that there was about 20 per cent to 30 per cent of total labor force that goes to waste in the thickly populated countries like Pakistan. If the citizens of the country are not well skilled and professional than how it can be expected that the country will do the progress. Pakistan has seen very low labour productivity over the last decade. In addition the relatively low growth in labour productivity has not gone hand in hand with the rising labour force and employment growth.

He said although the employment to population ratio has gradually increased over the last ten years from 46.8 percent to 50.4 percent. But at the same time, of anxiety is the still relatively high employment-to population ratio of almost 80 percent for men.“Economic managers must solve the problems of education, social infrastructure and economic policy-making which would help at large to solve the country’s economic woes,” he added. Dr.Murtaza Mughal urged the government to initiate reforms efforts so that country could achieve a higher and sustainable economic growth, reduce level of poverty, reducing unemployment and to raise the living standard of the masses.