NEW World Bank research explains investing in human capital should be prioritised by governments aiming for sustained economic growth. Launched at the World Bank’s annual meeting with the International Monetary Fund in Bali, the World Development Report 2019 calls on countries to focus more on future outcomes for children or risk hundreds of thousands of young people without adequate skills. The report notes even the poorest countries with the least funding must form development models benefitting populations with the least opportunities. As an add-on is a first-time Human Capital Index (HCI) measuring the link between health and education investments and the productivity of future workers. Among Asian countries predictably topping the HCI for under-investment in human capital, Pakistan is ranked lower than the average for its region and income group; a child born today will be 39pc as productive when she grows up as she could be if she had adequate education and healthcare. Here a child will complete only 8.8 years of schooling; 44pc of children are stunted and thus at risk of cognitive and physical disabilities. Despite this shameful report-card, a seemingly unchanged prognosis for years, the state has failed to protect the future of young people. Here it would do well to learn that development is not just about more money but how well it is spent.

For a government to ensure its people, including women, have relevant workplace skills, it must sustain investment in education, health, social protections and nutrition. More importantly, given an evolving labour market shaped by technology, we are not aware today what kinds of jobs the future holds but we can invest in skills needed to compete globally such as problem-solving and critical thinking, as well as empathy and communication abilities. This government must stay committed to pulling out all the stops by investing in its young generation so that it is not lured by regressive ideologies in antithesis to democratic values supporting peace and development.

Published in Dawn, October 15th, 2018