Discourse on population’s impact on economy
Despite the IMF lifeline, Fitch and Moody's have warned of continued risks to Pakistan's economy as the government stares at a $25 billion debt repayment hurdle in the year starting July.—PHOTO: file
The issue of poverty in South Asia is complex and cannot be attributed to a single factor, noted Ifitkhar Ali Malik, the former president of the SAARC Chamber of Commerce and Industry while chairing a round table conference on the impact of population explosion on the economy.
South Asia is confronted with a large population, with countries like India, Pakistan, and Bangladesh among the most populous in the world, a press quoted Malik as saying.
He said the sheer number of people puts pressure on resources and infrastructure, making it challenging to ensure economic opportunities and adequate living conditions for everyone.
The lack of access to quality education is a significant factor contributing to poverty in South Asia, he added.
"Education equips individuals with the necessary skills to improve their livelihoods and participate in economic activities. However, many people in the region face barriers such as inadequate school infrastructure, high dropout rates, gender disparities, and limited access to vocational training,” he added.
Iftikhar Ali Malik said South Asia experiences high levels of unemployment and underemployment as the region's economic growth has not been able to keep up with the increasing population, resulting in limited job opportunities.
He said some countries in South Asia have experienced political instability, and internal conflicts, which disrupted economic activities, damaged infrastructure, displace populations, and hinder poverty alleviation efforts.
He added that a substantial proportion of the population in South Asia relies on agriculture for their livelihoods. However, agricultural productivity in the region is often low due to factors such as outdated farming techniques, lack of access to credit and modern technology, and vulnerability to climate change and natural disasters said adding that these challenges contribute to income instability and poverty among rural communities.
He said this region is also plagued with weak governance, make practices, corruption, social inequalities, gender disparities, caste-based discrimination, and ethnic divisions that limit opportunities for certain groups and perpetuate cycles of poverty. These factors impeded poverty reduction efforts and exacerbate income disparities.
He said efforts to address overpopulation and poverty in the region require comprehensive strategies that tackle the multiple interrelated factors involved.
Published in The Express Tribune, July 4th, 2023.