Graduating from business school is the dream of every candidate in Pakistan, no matter where he/she comes from - Engineering, medicine, arts, humanities, etc. Is it worthwhile to be a business graduate in today's economical conditions of world generally and Pakistan specifically? This question can be answered by looking at the job market of the country.
In 2008, worldwide recession had deteriorate the economic conditions of the big economies – USA, UK, UAE, etc. and developing economies – Pakistan, India, Brazil, etc. too. However, big economies recovered from this slump but developing countries like Pakistan, Bangladesh and others too are paying price in terms of high inflation, unemployment, poverty, etc.
The highly indebt country Pakistan is suffering from the problem of liquidity, the main source of generating its liquidity is taxes, tariffs, aid and IMF loans. In recent years Govt. has raised taxes and tariffs at highest level of the history, which masses of the country are not accepting at all.
In respect to all of this condition the job market is very destructive as ever happened. The main reason for the destruction according to me is that everyone from every field wanted to be an MBA, despite of his/her strength in other fields.
However, aid from International donors for the development projects is good trigger. This is creating jobs for the business graduates as accountants, managers, field officers, etc. In addition, world’s largest bank in terms of value, Industrial and Commercial Bank of China Limited (ICBC), is about to enter in Pakistan. This investment will surely help economic conditions to recover and create jobs for the business graduates.
Last but not least political condition is getting better along with the social and economic conditions, which is strengthen the confidence of investors and I hope very soon there will be good news for business graduates.