In an alarming admission, the government has told the National Assembly’s Standing Committee on Finance that, according to the World Bank, the country’s unemployment rate has risen to 10.3 %, up from 6.3% three years ago. The revelation came during a briefing given by Finance Minister Muhammad Aurangzeb and Secretary Finance Chaudhry Imdadullah Bosal. This means every 10th individual in Pakistan’s workforce is out of job.
This disturbing disclosure comes as the country’s economically beleaguered inhabitants grapple with an unprecedented period and rate of inflation and taxes. At what cost is the common man to survive this predicament – caused by an absolute lack of economic foresight, bad governance and perhaps a stubborn unwillingness to bring significant reforms? The crime rate has been on the rise, with 5,000 cases being reported in June alone from just Karachi! Is the ruling elite even paying attention? Our society’s social fabric is tearing apart at the seams, if it has not already come completely off. The frustration of the old and young is beyond palpable now. Mob lynchings have become every day news, and so have suicides. The country has perhaps never seemed so hopeless as it does today, especially to the upcoming generation.
Serious economic reforms focused on redistributing wealth are needed, and they are needed right now. The government needs to introduce comprehensive job creation programmes. This could involve investment in infrastructure projects, support for small and medium enterprises, and incentives for industries that have the potential to employ large numbers of people. Social safety nets must also be strengthened to support those struggling the most. The government must urgently address these issues and focus on job creation, economic stability and comprehensive reforms to rebuild public trust and provide hope for the future.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ