Pakistan must act on acute human capital crisis & Reforms For A Brighter Future, World Bank

The World Bank’s Regional Vice President for South Asia, Martin Raiser,urged Pakistan to address its acute human capital crisis — including the high prevalence of stunting and learning poverty.

Martin Raiser speaks during an event on “Reforms For A Brighter Future” in Islamabad stated that Economic conditions leave Pakistan highly vulnerable to climate shocks, with insufficient public resources to finance development and climate adaptation.

Martin Raiser unveiled a series of policy recommendations to outline key areas requiring the attention of Pakistani authorities to improve the quality of life for its people i.e child stunting, education, fiscal sustainability, private sector growth, energy, agriculture, poverty and climate change.

The policy notes—focusing on child stunting fiscal sustainability, private sector growth, energy, learning poverty, agriculture, and climate change—are the culmination of several months of outreach and engagements conducted across the country under the “Reforms for a Brighter Future – Time to Decide” banner.

The policy recommendations intend to help inform the public policy dialogue in the country ahead the general elections scheduled in February, 2024.

“Almost 40% of children in Pakistan suffer from stunted growth, more than 78% of Pakistan’s children cannot read and understand a simple text by the age of 10. These are stark indicators of a silent human capital crisis that needs priority attention,” said Martin Raiser.

“With additional spending on water and sanitation of around 1% of GDP per year and better coordination at the local level, stunting could be halved over a decade with significant positive impacts on growth and incomes. This is just one example of the huge economic benefits a coherent and decisive reform strategy could have”.added Martin Raiser.