Youth are Pakistan’s biggest asset, says ECAP chief

Karachi: Chairman of the Exchange Companies Association of Pakistan (ECAP), Malik Muhammad Bostan, has said that Pakistan’s young population is its greatest asset.

However, transforming this potential into economic strength requires the urgent adoption of a national policy focused on skills development.

He stated that if young people are provided with technical and vocational training in line with the demands of the global job market, Pakistan can not only significantly reduce unemployment but also earn billions of dollars in additional remittances.

Malik Muhammad Bostan noted that over the past few years, millions of Pakistanis have moved abroad in search of better employment opportunities and a brighter future. Among them were not only unskilled workers but also doctors, engineers, IT professionals, and individuals associated with the nursing profession.

Expressing concern, he said that many students who leave Pakistan for higher education often do not return due to attractive career opportunities overseas, resulting in a significant loss of valuable human capital for the country.

He further stated that there is considerable demand for Pakistani manpower in countries such as Germany, Australia, the United Kingdom, Italy, Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, and Bahrain.

He added that the growing number of large-scale development projects in Gulf countries is continuously increasing the demand for skilled workers.

According to him, if the government launches effective programs to train unskilled individuals, Pakistan could send a substantially larger skilled workforce abroad in the coming years, leading to a significant increase in remittance inflows.

The ECAP Chairman also emphasized that Pakistani industries must adopt environmentally sustainable and eco-friendly business practices in response to evolving global trade trends.

He said that aligning with modern international standards is essential for maintaining competitiveness in global markets and expanding the country’s exports.

Malik Muhammad Bostan stressed that all sectors of the economy must play their role in strengthening Pakistan’s economic foundation.

He urged the government to reduce electricity and gas tariffs, lower production costs, and review budgetary measures that adversely affect businesses in order to make Pakistani exporters more competitive internationally.

He further stated that commercial counselors posted at Pakistani embassies and consulates abroad should be made more proactive in facilitating access for Pakistani products to international markets.