Pakistan is on the verge of bankruptcy and the only way out of this quagmire is for our leaders to

revise national policies drastically so that we can build a knowledge-based economy and tap into
our real wealth — the 130 million or so youth below the age of 20. This investment must be
made if Pakistan is to emerge from the deprivation that afflicts its people.

Its GDP growth rate is around 5.8 per cent. Its per capita income is $1,600 and about 40pc of the
country’s population lives below the poverty line. In this backdrop, fostering knowledge
economy is extremely important. Knowledge economy means to value knowledge, ideas and
promote innovations, talent and technology and also respect prosperity and diversity.

Despite the fact that education is the backbone of a knowledge-based economy, the state of
education though portrays depressing look. Government expenditure on education, total (%
of GDP) in Pakistan was reported at 2.3776 % in 2021. Literacy rate is nearly 62.3pc and
90 million people cannot read and write. About 22 million children are out of school. It’s rare to
find quality education in the country. From primary to university level education system is
outdated and outlying to compete with global learning teaching standard outcomes. Teaching
staff is not fully trained on pedagogy methods. Thesis and research papers produced by
universities are of low quality. The education system instead of producing intellectual human

capital is creating a mob of illiterates and fundamentalists. 78% Pakistani Employers

Dissatisfied With University Graduates. University Graduates Even With Top
Results Lack Industry Skills and Fail to Get Jobs.

At the time of its creation, Pakistan had only one public institute that is Punjab University, but
these days there are about 114 public and 78 private universities and colleges, some of which are
recognised by the HEC. It is a matter of fact that institutions of higher learning contribute to
prosperity and progress, which further leads to knowledge-based economy. There are not any
hotbeds where intellectual arguments need to be refined into concrete realities. An educationist
says, “Pakistan does not have even a single public sector university in the country that has an
appropriate fully functional ‘Learning Management System’ and ‘University Governance’
aligning with global needs.”

This is the age of information technology, which is incredibly a worthy source of knowledge
economy. It consumes and produces on the basis of intellectual capital, where technology and
rapid information access play a key role in economic development and growth taking superiority
over traditional drivers of growth; for example, low skilled labour and human capital.

The global economy has got various transitions from agricultural economy to industrial economy
to post-industrial economy and now to knowledge economy. The latest age has been marked by
the upheavals in technological innovations and the globally competitive need for innovation with
new products and process that develop from research community. Six modern technologies are
considered highly important such as computers, micro-electronics, human-made materials,
telecommunications, biotechnology and robotics. These technologies will make paradigm shift in
businesses throughout world.

Knowledge economy will make Pakistan lead globally and to become 10th economic power in the
world in coming three decades. Therefore, knowledge is our intellectual heritage; it needs to be
utilised for nation-building.

Other countries have successfully shown the way so the path is well established

Malaysia’s transformation under Mahathir Mohamad is also an eye-opener. Malaysia’s GDP shot

up from $26 billion in 1970 to $373 billion at present, as a result of determined effort to
transform Malaysia into a knowledge economy. Today, Malaysia contributes 51.68 % in 2021 of all
high technology exports from the Islamic world. The major focus of these is in the field of
electronics, particularly microchips and semi-conductors. High-technology exports (% of
manufactured exports) in Pakistan was reported at 1.4885 % in 2021

Singapore’s GDP was $12 billion in 1980 but has risen to above $397 billion, well above that of
Pakistan. Some 3,000 multinational companies have set up operations and now biotechnology is
being given a very high priority in the development plans. In 2000, Singapore declared
biotechnology its fourth economic pillar, revamped its National Science & Technology Board
(renaming it the Agency for Science, Technology and Research) and spent $570 million in
establishing three biotechnology research institutes. Singapore 1.92 percent. 0.23%
R&D The National Commission for Nanotechnology, also established under my charge, met
the same fate. Pakistan is about 36 times bigger in population and has far more natural resources
than Singapore. Yet, it has a much smaller GDP than Singapore’s. The reason is rampant
corruption at the highest levels and a lack of focus on education that can help us transition to a
knowledge-driven economy.

aCurrent Situation

13 Arab Scholarship Project

STEAM Education School system

Matric Tech Program

Massive Open Courses

4th largest freelance community ( 4 billion dollars from 2018 to 2022)

Digital Payment Gateways Issue and Freelaning

Opinion

Pakistan is a youthful country. It consists of about 64% of young people below 30. Now the
government is advised to build a knowledge-based economy through fostering new information
technological universities. Universities and technical institutes need to be connected with hi-tech
industries. Knowledge and innovation should be encouraged and rewarded. The government
should increase the education budget up to 4pc of GDP and also increase the research and
development budget. To build a pool of intellectuals and human capital need to have significant
public policies. Brain drain should also be stopped. Pakistan also needs to thrive in socio-
political and socio-economic institutions. It is time Pakistan needed an intellectual revolution
than anything else to boost the economy and to compete with the changing global economic
trends.

There is no substitute to building up human capital. Unless we invest in human minds for skills
development, we will lag behind other countries. The world is gradually turning into a
knowledge-based economy where people acquire knowledge, understand concepts, and
implement them practically to invent new things. This objective can be achieved by adopting
some effective measures.

Public and private sectors should establish intelligence and art-based institutions to teach new
skills and ideas to youngsters. The government should provide incentives in the shape of funds
and rewards to private companies for this purpose.

Moreover, children and youth should have proper access to the internet so that they may explore
and learn new ideas. Last but not least, there should be a strong network of scholars, researchers,
institutions and private companies that remain in touch with the world and seek new innovations
and then teach them to the young. By following such and other steps, the country will in the long
run be able to launch its own products and devices at national and global levels.

Challenges

Political Elite Dominance

Religious Intolerance

Atif Mian (Economist)

Education System is Fragile

Balochistan is blessed with a deep-pocketed coastline. Despite this, Pakistan
has a 240,000 sq-km Exclusive Economic Zone (EEZ) which was increased by
UNCLOS by a further 50,000 sq-km in 2015. This area offers enormous
potential for fishing and aquaculture. Despite this, blue carbon has the
potential to help Pakistan adapt to climate change and global warming. Due to
its significant strategic importance, Balochistan can serve as a gateway for
marine cargo. The foundation of the Blue Economy is fisheries and
aquaculture, which not only sustain the lives of those who live along the shore,
but also foster economic growth. Pakistan is home to a large number of fish
species; 529 species have been identified, of which 230 are freshwater fish and
the remaining 296 are marine fish. Unfortunately, no government has made
any serious efforts for tapping
the enormous potential that the Blue Economy offers. It is now up to the
current administration to ensure optimal use of this project and the growth of
our Blue Economy, under CPEC; expansion of the Gwadar port would ensure
strengthening of the maritime industry.
Eliminating poverty and providing for a person’s fundamental needs are
strongly tied to energy use, which is now quite low worldwide and much lower
in developing nations due to higher pricing and low availability conditional
with valued of the dollar and geopolitical issues globally. Pakistan has
enormous marine potential that has not yet been fully realised. The country
should transition from a traditional old economy to a new Blue Economy in
order to accommodate both our population expansion and global trends.
CPEC offers a fantastic chance to develop our maritime industry and fully
utilise the Blue Economy.
Beaches

1000 coastline

Astola Island, Gadni beech, Gawadar beech, Jiwani beech, Kund Malir beach

Maldives
Hingol National park

Water Games