Economics Essay

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THERE AREenormous environmental factors which have hampered industrial development and business growth in Pakistan. Bad governance, the energy crisis, financial embezzlement and corruption, rising inflation, high tax rates and the menace of terrorism have been the main impediments in hindering Gross domestic product (GDP) growth, besides declining foreign development investment (FDI). However, another important reason for this dilemma which requires more attention is the disrupted link between the industry and the academic world. Ironically, not much focus has been provided in this regard as education is placed very low on the government’s priority list. Business and technical education, for the last 15 years, has attracted great popularity mostly through the private sector. Particularly after the year 2000, a huge number of universities in the public and private sector have been established. Many new degree programmes with a diverse range of subject combinations have been introduced. A number of universities have started dual degree programmes with foreign university collaborations, offering significant opportunities for students to study abroad in highly ranked universities. Establishment of higher education was also a useful step, which offered numerous scholarships and facilitated higher education for all. In most of the public sector universities a comprehensive and pragmatic approach towards curriculum development has not been adopted and particularly in the evening programmes, many mismatching and irrelevant subject combinations are being taught at universities. Majority of the books in the curriculum are of foreign authors and do not correspond with the local business environment. There is no coordination between the Ministry of Education, Ministry of Commerce & Industry and various chambers of commerce. Although many organisations like National

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