Contrary to slogan of job creation, unemployment on the rise in Pakistan

10/28/2019

KARACHI : The Pakistan Tehreek-e-Insaf (PTI) promised in its election manifesto before July 2018 polls that it would provide 10 million jobs over a span of five years. Instead, its policies in the very first year of its rule have resulted in massive layoffs nationwide.
The Economic Survey of Pakistan, unveiled in June 2019, reported a slight drop in the rate of unemployment to 5.79% in fiscal year 2017-18.
Employers, however, have challenged the reading, arguing that it does not reflect the actual bleak situation in the job market. “If we take a holistic approach, it (the rate of unemployment) is not less than 14-15%,” Employers’ Federation of Pakistan (EFP) President Majyd Aziz told The Express Tribune. “The unemployment numbers reported by different governments from time to time are incorrect,” he said.
“This (5.79% unemployment level) is unrealistic. It means there is no such thing like unemployment in Pakistan.”
He claimed that Pakistan had witnessed huge layoffs in recent months. According to an estimate, one million people may lose their jobs due to the ongoing structural reform drive. “Employers have stopped making new appointments. Silent staff retrenchment is going on in the country,” he said.
“Some 3-3.5 million people come into the job market every year in Pakistan. We need a sustainable minimum 8% GDP (gross domestic product) growth to provide jobs to almost everyone,” the EFP president added.