ROLE OF OUR SYSTEM IN UNEMPLOYMENT

In Pakistan education system is defective. There is no educational planning. This system is producing the
stuff, which is useless in technical fields of the country. There is lack of technical and vocational
institutions. Public attitude towards education is wrong, they want to get their degrees in general and
arts subjects. Nobody can set up his own business without technical education.4-Millions of people in
Pakistan are poor. Due to poverty people are overburdened with expenditures and their savings are very
low. It is said that for the reasonable growth of economy saving rate should be at least 25% in any
country, but in Pakistan it is only 13 to 14% which is very low. Low investment level is due to less
savings, ultimately there is unemployment.
Pakistans population growth rate is 1.8% which is the highest in the region. Our resources are limited.
Different sectors of economy are unable to provide jobs to the growing population. So there is
unemployment
Since 1947, Pakistani rulers got loans from IMF, World Bank and many other sources. Such loans were
not utilized honestly. Current external debt of Pakistan is more than 50 billion dollar. Government has to
allocate a big amount for the repayment of loans with interest. So due to less resources for
developmental projects there is unemployment.
CONCLUSION
I would like to suggest that with proper economic planning, consistent policies of government, better
law and order situation, abolishing energy crisis, sincerity with Pakistan and by adopting the Islamic
economic system we can not only tackle the issue of unemployment but every economic problem of our
country as well.