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CARBS Business Review

Pakistan in 2033: Veins and Gains

Dr. Nadia Nasir

08 September, 2023

Pakistan 2033 Blog

In the next decade, Pakistan’s social landscape is expected significant transformation. The interplay of factors such as rapid population growth, urban migration, and the dwindling of natural resources will reshape the societal norms in ways that are hard to explain.

 

 Additionally, the pervasive influence of technology will exert a profound impact on the daily lives and overall functioning of the populace.

 

Several foreseeable developments can be inferred from these dynamics. The 2023 census recorded a total population throughout the country of 241,492,917 (excluding Gilgit-Baltistan and Azad Kashmir). After a decade the population is expected to exceed 300 million which will be a big challenge for developing economy.

 

Firstly, the youth, constituting around 65% of Pakistan’s population, will emerge as the new leaders of society. Having bitter experience of resource scarcities and malfunctioning systems they are likely to make more prudent decisions for their families. The younger generation will be actively engaged in the realm of e-commerce and freelancing. The familiarity with platforms like Fiverr will enable them to leverage their digital skills, leading to higher earnings and better economic growth. The youth in Pakistan exhibit a high level of intelligence and awareness regarding the prevailing circumstances in their surroundings. Consequently, a significant portion of the youth is opting to seek better opportunities abroad, resulting in a noticeable emigration trend. In the first seven months of 2023 (from January to July), a staggering 450,110 Pakistanis have embarked on journeys overseas in pursuit of employment prospects (Bureau of Emigration and Overseas Employment). 

 

Over the next decade in Pakistan, it is anticipated that more than 2 million individuals will follow suit by venturing abroad in search of better prospects. These individuals are poised to become valuable assets for Pakistan’s economy. Presently, Pakistan benefits from the remittances sent by these expatriates, and in the upcoming years, these remittances are expected to experience substantial growth.

 

Secondly, the prevalent joint family structure in urban areas will give way to nuclear families due to the demands of modern, fast-paced lives and a desire for greater independence. Consequently, urban dwellings, currently occupying roughly 10 marla houses, will be downsized to 5 or even 3 marla houses. This shift in housing patterns will necessitate corresponding changes in furniture design and dimensions. A rapid surge in the construction of apartments and flats is currently in progress, gradually supplanting traditional building practices. These modern flats will be aesthetically pleasing as well as equipped with all the essential amenities for comfortable living.

 

Thirdly, the empowerment of women will be on the rise, propelled by increased financial autonomy and enhanced educational opportunities for girls. The shifting economic landscape and technological advancement in Pakistan has instilled a belief among women that they can excel professionally and develop expertise in their chosen fields. In addition to traditional roles like female doctors and teachers, young women are now pursuing computer-related degrees, equipping themselves with the skills needed to earn income from the comfort of their homes. Pakistan boasts a wealth of female students who, for various reasons, prefer to work from home, and these women have already started using the latest software for skill development and free lancing.

 

Fourthly, In the upcoming decade, it is anticipated that the central government of Pakistan will face increasing pressure to grant greater political and economic autonomy to its constituent provinces. This shift towards decentralization will empower all provinces within Pakistan to exercise more independence in formulating and implementing policies for their respective regions, thereby facilitating enhanced development and progress for their citizens. This newfound political authority at the provincial level is expected to contribute significantly to the improvement of the provinces compared to previous years.

 

Lastly, in the realm of finance, the Pakistani government is poised to embark on efforts aimed at enhancing the formalization of its economy. This strategic move will be designed to ensure accurate tracking of individuals’ financial standings. The promotion of electronic transactions will be a central focus, while cash-based transactions will be discouraged. Through the establishment of a documented economy, the government will be better positioned to implement direct taxation methods, thus reducing reliance on indirect taxation measures. In future government will be forced to encourage domestic manufacturing in favor of imported goods, with the aim of nurturing and bolstering the local industry. By imposing restrictions on the importation of luxury items, society will gradually shift towards adopting a more straightforward and frugal lifestyle. The government is committed to reducing its expenditures, and one of the most effective strategies will involve privatizing various institutions. In the coming decades, Pakistan is poised to witness an increased wave of privatization. This move towards privatization is expected to introduce healthy competition in the business sector and usher in advanced technologies within institutions.

 

In essence, the upcoming years will usher in transformative changes in Pakistan’s social fabric, guided by the interplay of demographic shifts, technological advances, and economic reforms. These changes will reshape familial structures, empower previously marginalized segments, and foster an increasingly interconnected and fast-paced society.

Dr. Nadia Nasir

Dr. Nadia Nasir is an accomplished academician and researcher who currently serves as Professor at CARBS, Superior University, Lahore, Pakistan. She has a diverse range of research interests, including Management, organizational behaviour, Green HRM sustainability, entrepreneurship, and Big data management.

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Disclaimer

Please note that all opinions, views, statements, and facts conveyed in the article are solely those of the author and do not necessarily represent the official policy or position of Chaudhry Abdul Rehman Business School (CARBS). CARBS assumes no liability or responsibility for any errors or omissions in the content. When interpreting and applying the information provided in the article, readers are advised to use their own discretion and judgement.

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