Pakistan's output per worker increased by only half over the last three decades. During this same period, the national workforce expanded from approximately 28 million to 63 million people.
By comparison, China saw its output per worker grow more than fivefold, while Bangladesh recorded a 1.5 times increase. Vietnam's output per worker roughly quadrupled between 1990 and 2019, despite its median age rising from 22 in 1995 to 35 today.
In 1995, nearly two in three people in Vietnam were under the age of 30. Education and training gaps also affect the youth, with 45 per cent of young women and 13 per cent of young men currently outside of work, education, or training.
Eight in 10 Pakistanis now live to reach the age of 60, with those who do can expect about 17 more years of life. The number of Pakistanis aged 60 and over is projected to double from 18 million today to 37 million by 2050.
Currently, 43 per cent of men over 60 in Pakistan remain in the workforce, primarily in informal roles. Public servants in Pakistan continue to retire at age 60.
A 12-country study found no evidence that older workers taking jobs from younger people has any effect. A 60-year-old in Pakistan can expect about 12.5 healthy years ahead, while a 60-year-old in China can expect about 16 healthy years ahead, according to the World Health Organization.
Engro named Junaid Iqbal as its next chief executive in September. Iqbal will work alongside current CEO Ahsan Zafar Syed until April 2027.
Syed will move on to counsel the chairman of Engro Holdings.
