DERA GHAZI KHAN:
Around the world, countries have advanced towards a knowledge-based economy. The knowledge economy is a system of consumption and production that is based on intellectual capital. It refers to the ability to capitalise on scientific discoveries and applied research. Pakistan is lagging in progress and innovation because we have failed to acknowledge the need to invest in human minds to develop skills and strengthen our human capital.
We need to transition towards a knowledge economy as it encourages individuals to understand concepts and implement them practically to invent new things. The education sector needs to collaborate with the public and private organisations to establish science, technology, mathematics, and art-based institutions to provide individuals with a learning environment as well as the opportunity to create their own things. People should be able to experiment and implement the skills they have learnt as it will allow them to take more risks and apply their knowledge more effectively.
Educational institutes and private and public organisations should form a network to provide the youth with an avenue to enhance their creativity. The government should incentivise companies through grants to undertake such projects as it will help boost our potential. The youth should be given access to the internet to be able to develop, explore, and learn new ideas. These changes will allow the country to keep pace with the world and be able to launch itself in the global market.
Published in The Express Tribune, December 12th, 2022.
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