Pakistan’s age wave: opportunity or crisis?

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LAHORE: Pakistan stands at a crucial turning point – nowadays, growing, the challenge of the population of unemployed youth and the total aging society is preventing the growing costs.

By 2080, when the population rises to 370 million, the country will face a tremendous change: an elderly population from young people to a heavy nation that requires an important elderly population. Without an active plan, this transfer can put pressure on Pakistan’s economic capacity and the social aid system.

Nevertheless, with the right investment and policies, the population provides a powerful opportunity. By 2025, more than 64 % of the population is under 30 years. More than 60 million Pakistanis fall into the 15-29 age of the age-commonly known as “Youth Bulge”. This harmony can become an engine of economic growth-if it is equipped with standard education, market-related skills and meaningful jobs.

Unfortunately, youth unemployment is increasing, and job creation is slow – especially in the fields of manufacturing and formal services. The participation of the women’s labor force is only 21 %.

Since the emerging economies, like the transfer of Pakistan to the population, there are two important lessons from developed countries. First of all, governments have to make sure that their youth is competitive globally. This is beyond access to education – it requires education quality, curriculum compatibility, vocational training, and digital flow. Pakistan currently spends only 1.7 % of GDP on education, compared to 4-6 % of the countries.

Second, the private sector should be able to create jobs. Improving developing economies, evidence points to the importance of competitive firms globally. To promote such firms, Pakistan needs a strong ecosystem: transparent governance, better access to finance, modern infrastructure, and law -based rule for intellectual property and investment.

The current model of Pakistan’s old age support will not cope with the largest informal and family basis. By 2050, the population of 65 and older will almost double. To meet this challenge, a formal system must now be developed.

This includes increasing pension coverage, promoting private savings, and increasing financial inclusion. By 2023, less than 5.0 % of Pakistanis are included in any form of pensions, which is in danger of the majority in the latter. Initial action to regularize and enhance coverage – especially informal workers – can prevent financial tensions in the future.

Health investment is equally important. Currently, Pakistan allocates only 2.2 % of GDP for health – and most of the costs are focused on therapeutic rather than careful care. A change is essential by promoting health care, better nutrition, and physical activity to help older citizens stay dynamic and free.

Significantly, Pakistan should tap its women’s unused capabilities. Participation in Women’s Labor Force – especially in urban services – will largely expand the economy’s production base. Similarly, rural youths, who often neglect digital and expertise measures, should be folded through mobile training centers, online education and rural enterprise centers.

The settlement changes are rarely suddenly – it moves like a slow maize, until it is too much to be too much, it is easier to neglect to deceive it. Pakistan still has time to work, but the window is closing.

Not only failing to pose the risks to eliminate the population of today’s youth, but also to expose the nation to a dangerous extent in the face of the financial and social burden of tomorrow’s aging population. Planning for settlement flexibility is no longer optional – this is a national mandatory.