Impact of Education on Economic Growth of Pakistan

This study focused on the relationship that exists amongst the fields of education and economic growth in Pakistan in 1980- 2014 periods. As an equivalent result with the literature studies, the existence of a positive and significant relationship between education and economic growth is evident. It can be concluded from the results of both secondary and primary education that a more significant role is played by secondary education for promoting economic growth.

More resource allocations on education especially on higher education will have important contributions to the economic growth process of Pakistan and will yield a positive impact on Pakistan’s economy by increasing the chances of production of knowledge as well as the sharing and manufacturing process of universities.

Pakistan has serious potential for strategic endowments and development. It is situated at the intersection of South Asia, Central Asia, China and the Middle East and is therefore at the fulcrum of a regional market with a vast population, large and diverse resources, and untapped potential for trade. If the educational sector is improved Pakistan can experience great economic development. This statement has been supported by the statistical analysis done in this paper.

Conclusion and Recommendations

This study aimed to explore the relationship between education and economic growth in Pakistan. It is extremely significant for a country to put more fuel in education, because it is an essential ingredient of human capital and hence economic development. The landscape and strength of the affiliation between education and economic growth is still unblemished in case of Pakistan.

Developing nations if start concentrating on their scholastic needs may be able to prosper. Academic betterments have the tendency to stir significant improvements in the economy. Economic growth flows only from reforms that bring actual improvements in cognitive skills. Identifying what works and how to implement it on a society-wide scale remains a challenge, a challenge that includes both group of countries that constitute this world. That is, the developed world as well as many developing nations across the sphere of the planet. But, if we are to remain economically competitive, we need to solve the puzzle of our schools and meet the governors’ challenge. We should not, simply because we have failed to achieve them in the past, decide that the goals were illegitimate or unimportant.

The prime challenge that needs to be confronted by Pakistan is deficiency of educational accommodations and government’s ignorance towards it. Successive governments paid attention to different sectors like economy, constitution, law, foreign policy etc. But they opted to ignore the fact that Pakistan will cease to prosper if the commonalities are illiterate. Education proves to be one of the most important factors for the development of human civilization. Education enhances human status, provides manpower, strengthens national unity and uplifts public awareness. It invites positive and constructive change in society. We can be successful as a nation with the help of appropriate education.

Education is the most important aspect of any country’s survival, today. Education builds the nations; it determines the future of a nation. All other problems in Pakistan are related to lack of education. Illiteracy is a root cause of all major complications faced by the Pakistani society, for instance population inflation, inequality, corruption, unemployment, religious prejudice and gender discrimination.

To solve this problem, we need to spread awareness. The government needs to take concrete steps for promoting education in our country. People need to recognize illiteracy as a crucial drawback encumbering Pakistan’s success as a nation.

On the basis of the results of this study, it is recommended that the government focuses more to correct higher education chiefly to university education. Additional funds should be granted to education in line with others sectors, particularly to university and higher education levels, so that the economic growth can be further accelerated. This will in turn, leads to further education and hence development. Poor should be aided to get advance education with the intention of the minimization of polarization in higher education. Primary schooling should also be given priority because primary education serves as an input for all higher levels of education.
Pakistani women having relatively excellent literary abilities earn 95 per cent more than those with weak literary abilitiess, according to fresh data released by the United Nations Educational, Scientific and Cultural Organisation (UNESCO). So investing in education, especially for females, is essential as it lessens extreme poverty by securing substantial benefits for health and productivity, as well as democratic participation and women’s empowerment.

To unlock educations transformative power, however, new development goals must go further to ensure that all children benefit equally not only from primary education but also from good quality higher schooling.
The formation of the human capital through investing educational processes remains a global concern for all individuals and governments.