Daily InsightsLand Use and Property Rights

Industrial Zones Needed in Capital to Engage Youth

By 28/11/2022 0 Comments

The industrial and Agriculture sector plays a significant role in the country’s economic growth. Agriculture contributes 24 per cent to the GDP, while industry accounts for 25 per cent. As the world is technologically advancing, the industry sector is flourishing. However, it is still necessary to give a boost to the industrialisation process and exports of  Pakistan. Major cities, including Islamabad, Lahore, Karachi and Faisalabad are experiencing urbanisation and population growth, but youth talent is wasted as there are very few employment opportunities. Around 64 per cent of the population of Pakistan is under 30 years old, and it is one of the biggest advantages to the country if utilised efficiently.

Industrialisation is the best option to engage the youth of Pakistan, especially the unemployed. Many domestic and international investors are interested in setting up industrial units in the capital city of Pakistan, but there are no industrial or economic zones in the region. If there are industrial zones, new investment will be encouraged in the country, resulting in employment opportunities for the youth. The new industries will also help run the economy smoothly, and the working youth will bring innovation and technology to the industry sector. It is only possible if there are designated industrial zones in Pakistan’s capital city and other major cities.

The government and development authority must work towards developing industrial zones by designating special areas for them. The government can give industrial land on lease or extend to pay until the economy recovers. It is important for the government to cooperate with the private sector and involve private investors and firms. The economic activities need to be prioritised as the country is facing various economic challenges that are leading to inflation, unemployment, devaluation of currency and an energy crisis.

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