Drive for all-encompassing development

Increasing numbers of desperate mothers post queries for part-time jobs because they can no longer meet school fees and household expenses. Heart-rending videos on social media document the desperation of street vendors, laborers, pensioners, and widows as they struggle to balance their electricity bills and food expenses, while educated professionals are sharing anecdotes about the cutbacks they are facing as they wonder whether they will ever be able to get their quality of life back. Never before has Pakistan seen such severity of economic distress, nor has society ever been as demoralized as it has become today. This is not sensationalism; economists and historians agree it is a fact. It would appear, therefore, that the most serious challenge right now is restoring hope among the masses. There needs to be a bigger, forward-looking plan in place that can help absorb millions of new entrants into the workforce in significant employment opportunities. One frequently sees ordinary Pakistanis recounting economic despairs with tears down their cheeks, on programs on TV channels. There is little doubt that Pakistan is at the forefront of a perplexing macroeconomic condition. The budget has been widely criticized for rubbing salt in the wounds of commonplace taxpayers, misusing those already within the tax base rather than the authorities implementing strong methods to improve the base itself. In today’s capitalist world, worker retention becomes unfamiliar when the emphasis is on profits. The macroeconomic position of the country presents problems for businesses; the temporary key used by the majority is to curtail losses by laying off employees. Amid undesirable growth, inflationary pressures, and growing electricity rates, employers sacrifice workers in the race to sustain. No wonder the joblessness rate was likely to be 5.6 million in 2023, which confirms the IMF’s projection that Pakistan would have a joblessness rate of 8.5% in 2023. According to a report by ILO, comparing with figures from 2019, pre-pandemic economy, in 2023, the country’s employment-to-population ratio is 47.6% i.e. 2% less than in 2019. In addition, the jobs gap estimate has surged to 2.4 million in 2023, underlining the absence of openings for job seekers. The government should have a significant goal to promote the safety of those willing to work and should back the persons eager to work. There is a persistent necessity for job creation in Pakistan. Widely known as the fifth most populated country in the world, Pakistan must guarantee jobs for common people. More and more students graduate only to understand there is a lack of equitable jobs and the companies that employ underpay the fresh employees. This trick disheartens people from entering the labor force, showing a blatant underutilization of resources in an already rundown economy. Graduates soon realize that while they have a document verifying their educational ability, there is a gap in their technical skills and their real capacities. Because of this when it comes to expert posts, they often confront rejection or replacement by others. With labor mainly being agricultural, mining, and transport, coupled with the absence of wide-ranging trade, it is worthless to discuss the low labor efficiency rate. There is a long way to go before families recover from the income shocks they experienced in current years. Who will try to find an answer, whom would the commonplace citizen look towards when the bills are beyond their means? After all, who is responsible and accountable for the laborers, the jobless, and those faced with hurdles and impediments to earning a living? With joblessness on the rise and family circles disturbed with inflationary burdens and a sharp decrease in their real income, these are symbols the country’s drive for all-encompassing development will be nothing but a hollow undertaking.