27Mar

Pakistan’s Workforce in 2025: Emerging Trends and Opportunities

When we think about what’s coming, it’s pretty obvious that Pakistan’s Workforce in 2025, Emerging Trends and Opportunities will change a lot in the next few years. As more and more people move to cities and new technologies become available, the workers of 2025 will be influenced by new trends and chances. Iqbal Manpower will play a key role in connecting skilled professionals with these emerging opportunities.

A big issue that workers in Pakistan are dealing with is the gap between the skills people have and the skills they need. Many workers don’t have the right skills to succeed in the worldwide economy, and that means their work isn’t as good as it could be. A report from the World Bank says that Pakistani workers aren’t as productive as workers in many other countries nearby.

Getting Our Act Together: Why We Need to Boost Our Workers’ Skills

It’s pretty obvious that we need to do a better job of developing our workforce. If Pakistani workers get the right training and skills, they can become way more productive, competitive, and come up with new ideas. A report from the Pakistan Bureau of Statistics says our workforce could hit over 100 million by 2025, which is a huge chance to really improve things.

What’s New and What Can We Do About It?

Alright, so what are the new trends and opportunities that are going to affect Pakistan’s workers in 2025? Here are a couple of big ones:

Working from Anywhere and the Rise of the Freelance Economy

Thanks to all the cool new tech, working remotely and the whole freelance gig thing are catching on like wildfire. Upwork did a study that says the freelance economy could be worth a whopping $455 billion by 2025. That’s a ton of chances for freelancers and people starting their businesses.

Automation and AI

Machines are changing the way we work thanks to automation and AI, taking on many roles that humans used to do. However, this shift also means people can learn new skills and work alongside these advanced technologies. A study by the McKinsey Global Institute suggests that by 2030, as many as 800 million jobs worldwide could be lost due to automation.

 Education and Training

To help Pakistani workers get the skills they need, education and training are vital. The World Bank emphasizes that putting money into these areas can make the country’s workers more productive and competitive.

 Diversity and Inclusion

Having a diverse and inclusive workforce is key to truly reflecting the wider population.

 Entrepreneurship and Innovation

Entrepreneurship and innovation will be critical in creating new opportunities and driving economic growth. According to a report by the World Bank, entrepreneurship can create jobs, increase productivity, and drive economic growth.

Pakistan’s workforce in 2025 will be shaped by emerging trends and opportunities. By understanding these trends and opportunities, workers, employers, and policymakers can work together to create a workforce that is skilled, productive, and competitive. Whether it’s remote work, automation and AI, education and training, diversity and inclusion, or entrepreneurship and innovation, the future of Pakistan’s workforce is bright.

Conclusion

By investing in workforce development, Pakistan can create a workforce that is equipped to compete in the global economy. With the right skills, training, and opportunities, Pakistan’s workforce can drive economic growth, increase productivity, and improve living standards.

12Jun

Establishment of SIFC and Role of POEPA

Initiative of SIFC and the Role of POEPA

Pakistan’s economic condition has reached a critical juncture where reconciliation and strategic initiatives are paramount for achieving stability. It has been characterized by slow growth, rising inflation, and increasing debt. As of 2024, the country continues to grapple with a significant debt crisis and severe fiscal deficits. The Pakistani rupee has faced substantial devaluation, reaching alarming levels against the US dollar before stabilizing slightly due to stringent measures and international support. This precarious economic environment underscores the urgent need for political reconciliation and robust economic policies to steer Pakistan toward stability. So, there is the establishment of SIFC and POEPA roles.

Establishment of SIFC

In response to the economic turmoil, the Special Investment Facilitation Council (SIFC) was established on June 20, 2023, by Prime Minister of Pakistan Mr. Muhammad Shahbaz Sharif along with Chief of the Army Staff, General Asim Munir.  The primary objective of SIFC was to attract direct foreign investment into Pakistan, thereby fostering economic growth and development. SIFC focuses on creating a conducive environment for investors by streamlining regulations, reducing bureaucratic hurdles, and providing incentives for foreign businesses to invest in Pakistan. This initiative is seen as a cornerstone in Pakistan’s strategy to stabilize its economy and enhance its development prospects. SIFC initially focused on key sectors including Agriculture & Livestock, IT & Telecom, Mines & Minerals, Energy (Petroleum & Power), and Industry, Tourism & Privatization to drive Pakistan’s economic growth and development.

The Vital Role of POEPA

(Pakistan Overseas Employment Promoters Association)

While SIFC focuses on attracting direct foreign investment, the role of POEPA cannot be overstated.

“POEPA has long advocated for sending skilled manpower abroad as a short-term solution to bring immediate foreign investment through remittances.”

This approach requires minimal initial investment in development but hinges on the crucial need for proper training of the workforce. According to the Ministry of Overseas Pakistanis & Human Resource Development, approximately 9 million overseas Pakistanis are contributing significantly to the national economy through remittances.

Pakistan’s Economic Condition and the Need for Reconciliation

To propel Pakistan’s economic development, there is a pressing need for centralized schemes and cohesive policies. Effective implementation of these policies can drive sustainable growth and ensure economic stability. Pakistan must prioritize economic stability over internal differences. The future of the nation hinges on collective efforts to strengthen the economy. As I believe that

“If Pakistan thrives, we all thrive; if it falters, we all face the consequences.”

By uniting in our efforts and focusing on economic initiatives, we can ensure a prosperous future for Pakistan.

Conclusion

The establishment of SIFC and the strategic role of POEPA is the multifaceted approach needed to stabilize and grow Pakistan’s economy. By fostering direct foreign investment and leveraging the potential of Manpower exports to GCC and other parts of the world, Pakistan can navigate through its economic challenges toward a brighter future. It is a call for unity, collaboration, and unwavering focus on economic development to ensure that Pakistan not only survives but thrives in the global arena.

https://youtu.be/g0nLQ2ysdWw