Pakistan’s Progress on Sustainable Development Goal 8: Decent Work and Economic Growth

Pakistan continues to advance toward SDGs targets, though efforts related to SDGs goal 8, decent work and economic growth, are not enough to achieve the targets envisioned by 2030. Progress is being made towards ensuring that the economic sector provides necessary needs for the citizens of Pakistan, irrespective of their background, race, or culture. But more efforts are needed as Pakistan’s economy faces periods of ups and downs, making it difficult to achieve sustained growth over time.

Decent work and economic growth are one of the 17 Sustainable Development Goals which were established by the United Nations General Assembly in 2015. The full title is, to foster sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all. Economic growth is important for a country as it ensures improved quality and standard of living for all. It also enables a country to meet the challenges of population growth and helps drive innovation and technological development.  Encouraging entrepreneurship and job creation are key to this, as are effective measures to eradicate forced labour, slavery, and human trafficking. Sustained, indigenous, and inclusive growth is a high priority for Pakistan. Entrepreneurship and the knowledge economy are also rated high on the national agenda. Pakistan recognizes that a thriving and diverse economy is a necessary pathway to prosperity for all. Therefore, it is pertinent to understand Pakistan’s contributions towards achieving SDGs Goal 8 and realise what can be done to ensure success in meeting all targets.

SDG 8: Decent Work and Economic Growth

The goal emphasizes on promoting inclusive and sustainable economic growth, employment, and decent work for all. Poverty remains a major social issue, and its eradication is only possible through stable and well-paid jobs. In addition to creating jobs, conditions for working men and women must be improved, while women should have equal opportunity for employment like men. Decent work means opportunities for everyone to get work that is productive and delivers a fair income, security in the workplace, social protection for families, better prospects for personal development, and social integration. An estimated 172 million people worldwide were without work in 2018 – an unemployment rate of 5 percent. Women’s participation in the labour force stood at 48 per cent in 2018, compared with 75 percent for men. Around 3 in 5 of the 3.5 billion people in the labour force in 2018 were men. Some 700 million workers lived in extreme or moderate poverty in 2018, with less than US$3.20 per day. (UN, 2021)

Pakistan’s Progress on SDG Goal 8: Decent Work and Economic Growth

Pakistan has experienced steady economic growth in recent years, which reached a rate of 5.4 percent in 2017-2018. Agriculture forms 19 percent of GDP, while manufacturing contributes 20.6 percent, and services 60.4 percent. On average, the agriculture sector grew by 2.1 percent, manufacturing by 4.7 percent, and services by 5.5 percent. But all this progress came to a halt after the world got gripped in the coronavirus pandemic. Still, the government affirmed renewed commitment to boosting trade, economic growth, jobs, and safeguarding a decent standard of living for all. Pakistan has made substantial progress in improving the business climate in recent years. Starting a business and registering property is now easy. This has been achieved by streamlining and automating administrative procedures, and resolving insolvency issues easier. Integrated portals for online registration of companies, getting construction permits, improved reliability, transparency, reduced procedures, and trading across borders are all hallmarks of a new simplified system.

The present government assigns high priority tourism development. This sector is dominated by the private sector while the public sector’s role is limited as a facilitator. Foreign visitors visiting Pakistan have increased three times since 2014. A vibrant financial sector is necessary for supporting growth. With the expansion of ICT, branchless banking has facilitated access to financial services. Improvement in financial inclusion leads to higher growth, increasing the access to start new start-ups, hence innovation which gives an opportunity that raises productivity and thus growth. The China-Pakistan Economic Corridor (CPEC) agreement – a USD 59 billion30 framework of regional connectivity – has created a large number of employment opportunities. Pakistan has also invested in several projects to support the CPEC initiative. CPEC infrastructure projects have begun to have a multiplier effect on overall employment creation and growth prospects. (Government of Pakistan, 2019)

Bibliography

Government of Pakistan. (2019). Pakistan’s Implementation of the 2030 Agenda for Sustainable Development.

UN. (2021). Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all. Retrieved from https://sdgs.un.org/goals/goal8

Research Questions

1. What is the significance of goal 8, decent work and economic growth?

2. What is Pakistan’s progress on SDG 8?

Key Takeaways

1. Economic growth is important for a country as it ensures improved quality and standard of living for all. It also enables a country to meet the challenges of population growth and helps drive innovation and technological development.

2. Sustained, indigenous, and inclusive growth is a high priority for Pakistan. Entrepreneurship and the knowledge economy are also rated high on the national agenda.

3. Pakistan recognizes that a thriving and diverse economy is a necessary pathway to prosperity for all.

4. Pakistan has experienced steady economic growth in recent years, which reached a rate of 5.4 percent in 2017-2018.

5. The government affirmed renewed commitment to boosting trade, economic growth, jobs, and safeguarding a decent standard of living for all.

6. The present government assigns high priority tourism development. This sector is dominated by the private sector while the public sector’s role is limited as a facilitator.