Web Desk
KARACHI: A report released by the World Bank, “Pakistan Human Capital Review (HCR) Building Capabilities Through Out Life”, highlights the importance of increasing investment in human resource development by Pakistan to improve education and health. can eliminate the severe differences found with regard to
Pakistan has reached the status of a middle-income country and in the last two decades, Pakistan has made significant progress in alleviating poverty, yet insufficient capital in human resources has limited Pakistan’s prospects for further growth and prosperity.
“Sustainable investment in human resources is critical to sustainable economic growth, developing a workforce for the high-skills jobs of the future, and competing effectively in the global economy,” said World Bank Vice President for Human Development Mamata Morethi.
Investments in human resources can be beneficial in building resilience to the impacts of climate change while building the skills and innovation needed to build a green and inclusive economy and reduce inequality.
Pakistan’s Human Capital Index (HCI) is 0.41, which means that if a child born in Pakistan today is given full education and health facilities, he will be useful for the society by only 41%. Pakistan’s Human Capital Index is the average index of South Asia. is much less than
Also Read: Pakistan Overtook Sri Lanka in Inflation
Bangladesh has 0.46 and Nepal has 0.49. In fact, human resource development in Pakistan is comparable to sub-Saharan Africa, with an average HCI of 0.40. Another aspect of Pakistan’s human development crisis is its underutilization, largely due to low participation of women in the workforce.
“20 million school-age children are out of school, high levels of malnutrition among children and lack of empowerment among women are contributing to Pakistan’s human development deficit,” said Najay Bin Hussaini, the World Bank’s country director for Pakistan. These Challenges are considered among the most pressing challenges in the world.
