In this study the relationship
between education and economic growth specifically for Pakistan in 1980- 2014
periods was searched. As a parallel result with the studies in literature, it
is found that there is a positive and significant relationship between
education and economic growth. It is revealed from the results of both
secondary and primary education that secondary education plays a greater role
for promoting economic growth.

More resource allocations on
education especially on higher education which will have important
contributions to the economic growth process of Pakistan and will have positive
effects on the performance of Pakistan’s economy by increasing the transfer
opportunities of knowledge production and sharing and manufacturing process of
universities.

Pakistan has important strategic
endowments and development potential. The country is located at the crossroads
of South Asia, Central Asia, China and the Middle East and is thus at the
fulcrum of a regional market with a vast population, large and diverse
resources, and untapped potential for trade. If the educational sector is
improved Pakistan can experience great economic development. This statement has
been supported by the statistical analysis done in this paper.

Conclusion and Recommendations

This study aimed to explore the relationship
between education and economic growth in Pakistan. It is very essential for a
country to invest more in education, because it is one of the most important ingredients
of human capital and hence economic development. The nature and strength of the
relationship between education and economic growth is still not clear in case
of Pakistan.

Developing nations if start focusing
on their educational needs can prosper. Educational improvements can bring
great improvements in the economy. Economic growth flows only from reforms that
bring actual improvements in cognitive skills. Identifying what works and how
to implement it on a society-wide scale remains a challenge, not only for the
developed world but also for many developing nations across the globe. But, if
we are to remain economically competitive, we need to solve the puzzle of our
schools and meet the governors’ challenge. We should not, simply because we
have failed to meet them in the past, decide that the goals were not legitimate
or important.

The biggest challenge faced by
Pakistan is lack of educational facilities and government’s ignorance towards
it. Successive governments paid attention to different sectors like economy,
constitution, law, foreign policy etc. But they chose to ignore the fact that
Pakistan can never prosper if the masses are uneducated. Education proves to be
one of the most important factors for the development of human civilization.
Education enhances human status, provides manpower, strengthens national unity
and uplifts public awareness. It invites positive and constructive change in
society. We can be successful as a nation with the help of appropriate education. 

Education is the most important
aspect of any nation’s survival, today. Education builds the nations; it
determines the future of a nation. All other problems in Pakistan are related
to lack of education. Illiteracy is a root cause of all major difficulties
faced by the Pakistani society, such as population explosion, inequality,
corruption, unemployment, religious intolerance and gender discrimination.

To solve this problem, we need to
spread awareness. The government needs to take concrete steps for promoting
education in our country. People need to recognize illiteracy as a crucial
drawback encumbering Pakistan’s success as a nation.

On the basis of the results of this
study, it is recommended that the government should focus more on higher education
particularly to university education. More funds should be allocated to
education in line with others sectors, particularly to university and higher
education levels, so that the economic growth can be further accelerated. This
will in turn, leads to further education and hence development. Poor should be
facilitated to get higher education so that the polarization in higher
education may further be minimized. Primary schooling should also be given
priority because primary education serves as an input for all higher levels of
education.

Pakistani women having good literacy
skills earn 95 per cent more than those with weak literacy skills, according to
fresh data released by the United Nations Educational, Scientific and Cultural
Organisation (Unesco). So investing in education, especially for girls, is
essential as it alleviates extreme poverty through securing substantial
benefits for health and productivity, as well as democratic participation and
women’s empowerment.

To unlock educations transformative
power, however, new development goals must go further to ensure that all
children benefit equally not only from primary education but also from good
quality secondary schooling.

The formation of the human capital
through investing educational processes remains a global responsibility for all
individuals and governments.