
ISLAMABAD:
Approximately six decades ago, Schultz and Becker introduced the idea of investing in human capital. They suggested that education is a prerequisite for economic development otherwise nations cannot achieve development. This is exemplified by the rapid economic growth achieved by the East Asian countries. These countries strengthened their education departments to improve economic returns. Currently, East Asian economies rank among the world’s largest and most prosperous economies.
Although Pakistan has improved literacy rates over the years, much more needs to be done to achieve our full potential. In 2019, the annual Human Development Report stated that Pakistan has not shown any improvements in key educational indicators such as gross enrolment ratio and expenditure on education compared to regional countries. Pakistan’s literacy rate is significantly lower than its neighbours. The country has a high primary school dropout rate, which is alarming because it is the formative stage of learning.
Little to no investment in the education sector, slow disbursement of funds, absence of policy levers to control resource allocation, and a disconnect between the education management system have led to an education crisis. Considering that decisions are not made using data, there is little correlation between education data and policies. Instead of identifying the fundamental problems and working on resolving them, government departments compile data to paint a positive picture. To improve the education system and achieve economic progress, policymakers and government bodies need to allocate funds and resources appropriately. They should remain vigilant and enforce strict policies to avoid mismanagement of funds.
Published in The Express Tribune, November 14th, 2022.
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