Seminar
Harnessing the Potential of the Young Population: A Path to Economic Security
May 17, 2023
The seminar explored how Pakistan can turn its large youth population into a driver of economic growth. Experts emphasized the need for education reform, skill development, and greater inclusion in the workforce to secure the country’s economic and national future.
The world is witnessing unprecedented changes on multiple fronts. Recent technological advances in AI are shaping up to completely alter the workforce, means of production, and value creation. Developed countries are grappling with ageing and plummeting populations, while developing countries are dealing with issues arising from high population growth rates.
Pakistan is the world’s fifth-most populous country, yet its share in global GDP is only 0.4 percent in nominal terms and 0.9 percent in terms of purchasing power parity (PPP). However, Pakistan ends up being ranked 177th in terms of GDP (PPP) per capita, leaving it lagging behind in global economic and productivity rankings.
Pakistan’s low standing in global rankings is the result of a multitude of economic challenges threatening its economic and national security. Pakistan’s National Security Policy (NSP) 2022 prioritised economic security as a crucial component of national security and outlined various policy options like building a globally competitive workforce and preparing for digital transformation.
In the current scenario, human capital development seems to be the most compelling intervention to place Pakistan on the path to economic security. Pakistan’s population is primarily comprised of youth, with over 64 percent of the population under the age of thirty and 29 percent falling into the age group of 15–29. The key challenge is that this core segment of the population lacks the adequate skill training and growth avenues to become productive members of society.
Similarly, almost 22.8 million children of school-going age are out of school in Pakistan. Additionally, labour force participation rates are low, with female participation in particular being minimal.
Pakistan can transform this vital segment of its population from a potential liability into a dividend by reimagining the education system and imparting globally competitive skills. By harnessing the potential of this burgeoning youth demographic, Pakistan can bolster its economic and national security.
Against this backdrop, a seminar on “Harnessing the Potential of the Young Population: A Path to Economic Security” was organised on May 17, 2023, at the Centre for Aerospace and Security Studies (CASS), Lahore, to deliberate upon the various options for harnessing the potential of the young population in Pakistan.
The seminar was chaired by Air Marshal Asim Suleiman, President CASS Lahore. The master of ceremony was Ms. Nida Rehman Khattak, researcher at CASS. The introductory remarks were presented by Director of Economic Affairs, Dr Ghulam Mohey-ud-din.
The speakers included Former Finance Minister of Pakistan Dr Salman Shah, Chief Investment Officer Engro Corporation Mr Nadir Salar Qureshi, and CEO Tabadlab Mr Mosharraf Zaidi. The seminar was attended by the Deputy Chief of the Air Staff (Training) Air Marshal Zulfiqar Ahmad Qureshi, senior serving and retired PAF officers, academicians from different universities, and representatives from local think tanks.
Key Takeaways
Pakistan faces a deepening human development crisis driven by a mismatch between its youthful population and the demands of a modern global economy. With over 60% of its population under thirty, the country has a narrow window of opportunity to capitalise on its demographic advantage. However, widespread skill gaps, poor integration with global value chains, and a labour force participation rate of just 55%—particularly low among women—undermine economic productivity and job creation. The education system fails to equip the workforce with relevant skills, producing a largely unemployable labour pool. Coupled with poor health indicators and malnutrition, Pakistan’s human capital remains significantly underdeveloped, ranking near the bottom globally in GDP per capita and the Human Development Index. Urgent reforms are essential to prevent the youth bulge from turning into a socioeconomic burden.
Policy Considerations
To ensure long-term economic security, Pakistan must address grassroots challenges, reorient its economy outward, and invest in education, skill development, and technological innovation. Enhancing competitiveness and productivity through talent and tech, alongside transforming the education system, is critical. Tackling stunting and malnutrition will unlock the potential of the youth, while promoting women’s economic participation and facilitating overseas job placement through certification can significantly boost GDP and remittances. Re-skilling university graduates, particularly in IT, can help reduce the current account deficit. Urban clusters should be leveraged as engines of job creation and innovation, and youth development must also include character building and civic training to foster a capable, responsible workforce.
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Guest Speakers
Dr Salman Shah
Former Finance Minister of Pakistan
Dr Salman Shah is the former Finance Minister of Pakistan. He has also served as an advisor to the Chief Minister of Punjab on Economic Affairs and Planning & Development. He is a Lahore-based economist and holds a PhD in finance and economics from Indiana University. He has 16 years of teaching experience at institutions such as the University of Michigan, Indiana University, the University of Toronto, and Lahore University of Management Sciences. During his time in charge of Pakistan’s finance ministry (2004–2008), Pakistan’s economy registered an average of 7 percent GDP growth per annum, among the highest in the world. Dr Shah has served in various positions, such as an economic consultant to different Pakistani governments and Chairman of the Privatisation Commission during the tenure of the caretaker government. He has served as a member of the Board of Directors at Pakistan International Airlines, Central Board of Directors at the State Bank of Pakistan.
Mr Nadir Salar Qureshi
Chief investment officer, Engro Corporation
Mr Nadir Salar Qureshi is the Chief Investment Officer of Engro Corporation. He joined Engro as Chief Strategy Officer in March 2017, and subsequently stewarded the group’s flagship listed enterprise, Engro Fertilizers, from 2019 to 2022 as CEO. He has completed his MBA from Harvard Business School and his bachelor’s and master’s degrees in nuclear engineering from MIT. Mr Qureshi brings with him expertise in multiple sectors across the GCC, Turkey, Australia, India, ASEAN, and the EU. He is also experienced in consulting, private equity, and finance. Mr Qureshi began his career with Engro Chemical Pakistan Limited as a business analyst and then moved on to organisations such as Hub Power Company, Bain & Company, Carrier Corporation, Abraaj Capital, and Makara Capital in Singapore. He is a director on the boards of Engro Energy Limited, Engro Polymer & Chemicals Limited, and Chairman Engro Vopak Terminal Limited.
Mr Mosharraf Zaidi
Chief Executive Officer, Tabadlab
Mr Mosharraf Zaidi is the co-founder and CEO of Tabadlab, which is a think tank and policy advisory firm that helps leaders in the public, private, and non-profit sectors identify and solve problems related to economics, politics, and society. Mr Zaidi has over two decades of experience in analysing and shaping policy in complex political environments. He has spearheaded research, analysis, and delivery for a wide array of reform interventions in Pakistan and Afghanistan, as well as in the South Asia region. His work intersects with political economy, strategic communications, and change management. Mr Zaidi was Governance Adviser for the UK Government’s FCDO from 2004 through 2008, and improved public financial management in the Punjab province. He served as principal policy advisor at Pakistan’s Ministry of Foreign Affairs from 2011 to 2013, where he worked in crisis diplomacy and established the Public Diplomacy division. From 2013 through 2018, he led the Alif Ailaan campaign for education in Pakistan. Mr Zaidi joined Albright Stonebridge as a senior adviser in March 2021.
CASS Speakers
Dr Ghulam Mohey-ud-din
Director Economic Affairs, CASS Lahore
Air Marshal Asim Suleiman (Retd.)
President, CASS Lahore
Master of the Ceremony
Researcher, CASS Lahore
Nida Rehman Khattak
The Centre for Aerospace & Security Studies (CASS) was established in July 2021 to inform policymakers and the public about issues related to aerospace and security from an independent, non-partisan and future-centric analytical lens.
