Entrepreneur Azad Chaiwala explains
Youth employment is one of the biggest challenges facing Pakistan.
Economists estimate that the country’s economy needs to grow at 7% or higher to absorb 2 million people entering the job market every year.
By contrast, 1.5 million to 2 million Pakistanis lost work after the country went into lockdown to prevent the spread of Coronavirus last year.
The economy went through its first-ever contraction in 68 years, recording a negative ‘growth’ rate of -0.4% in fiscal year 2020.
The economy has recovered from the slump, but the GDP growth rate is still under 4%, far from the desired level to absorb unemployed youth, including fresh graduates.
So, what is the way forward? Entrepreneur Azad Chaiwala explains in this video.