Monday, April 10, 2017

Role of education in economic development

Role of education in economic development

The development economists uptil 1960’s attached great importance to material capital such as machines, new factories, new buildings etc, in the development process of the country. The manpower was not regarded an important variable for increasing productivity and income. Since 60’s, the emphasis is gradually shifting tp manpower as an important factor of development.
              
role of education
   
             Education  is considered as the cornerstone of board based economic growth and the poverty reduction. Education is a key to change and progress. The consensus is that Pakistan economic growth can be achieved with higher emphasis on the quality of its manpower.
                 Manpower consists of all segments of a society which are engaged in one from or the other in development activities. If a country has a trained manpower, it makes economic activities highly productive both in quantitative and qualitative aspects. If the manpower is illiterate, unskilled, under-nourished and of poor health, the output per man is low. This eventually leads to low income, low investment and country remains trapped in vicious circle of poverty.
                 
                  The government of Pakistan is trying its best to improve human capital so that it should serve as a leading factor for the socio-economic development of the country. The literacy rate is estimated at 58% in the year 2011-12.

                   There is no doubt that in the last over three dacades, the literacy ratio has increased to 58% and the quality of education has improved, yet the progress on the whole is not satisfactory. The mass failure of students in the examinations, the misdirected education is resulting in the waste of precious resources of the country. It is , therefore, suggested that to meet the present and future requirements of manpower in different sectors of the economy, it should be developed on the following levels.

(I).Manpower oriented to industrial requirements.
               The present day plants are becoming highly complex. There are rapid changes in the production patterns. In order to meet the changing requirements of the industrial sector, the education and training has to be carried on the following lines.
1.          Handing new production lines, innovations.
2.          Handing of new sophisticated equipments.
3.          Technological assistance in maintaining the plant and the machinery.
4.          Expansion in plant facilities.
5.          On job facilities for improving performance.
6.          Training for managerial performance. 
(II).Manpoweroriented to agriculture activities.
               Our economy is basically agricultural, employing about 44% of the total labour force. We can hardly boast of an existence of an effective manpower in this sector. In order to increase effective manpower for the sector, it is suggested that development should be made on the following lines.

1.          Establishment of new rural academies and strengtheningof the existing ones for imparting agricultural know-how at the levels of primary, secondary and higher education.
2.          Compulsory enrollment of young people to these academies.
3.          Development of experimental farms attached to academies for practical education and demonstration.
4.          Establishment of rural based industries side by and providing technical training.
(III). Manpower to cater various services requirements.
       Service sector’s requirements are of a very wide range. The areas wherein manpower specially requires to be developed include skilled masons, technicians, electricians and electrical services, qualified workshop operators, steel reactor, machine, plumbers, foremen/supervisors and computer literates etc. The development of this intermediary manpower would be greatly rewarding to the entire society as the performance in the various sectors will be greatly improved.

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