HYDERABAD: The President Hyderabad Chamber of Small Traders & Small Industry, Muhammad Farooq Shaikhani, has expressed grave concern over Pakistan’s escalating population crisis, describing it as a ticking time bomb.
He warned that when this bomb eventually goes off, it will not only lead to a severe shortage of resources but also pose significant challenges for the business community and industrialists. He urged that the current pace of population growth is a major threat to the country’s economy, particularly for the business sector.
According to President Shaikhani, the 2023 census reveals that Pakistan’s population has surged to approximately 241.49 million, up from 207.7 million in 2017. This rapid population increase is placing an immense strain on the nation’s resources. Already, there are considerable challenges in the supply of food, water and energy across various regions of Pakistan. If this population growth continues unchecked, these challenges are likely to intensify in the coming years.
He highlighted that in a city like Hyderabad, which already suffers from inadequate infrastructure and a shortage of basic amenities, further population growth could exacerbate existing problems. The city is already grappling with issues like power outages, water scarcity and traffic congestion. As the population continues to rise, these challenges could become even more severe, directly affecting business activities.
Chamber President Farooq Shaikhani also drew on historical examples, noting that India faced a devastating food crisis in the 1970s due to rapid population growth, which severely impacted the country’s economy. He cautioned that if Pakistan does not address its population issues promptly, the nation could face similar crises in the future.
He further stressed that population growth directly contributes to rising unemployment. According to the World Bank, Pakistan’s unemployment rate surged to 6.3 percent in 2023, up from 4.5 percent in 2020. When the youth are deprived of job opportunities, it impacts the business community as well, diminishing the purchasing power of the population and potentially leading to deterioration in law and order.
Shaikhani highlighted alarming food crisis linked to growing population. Per capita agricultural production is steadily declining, which is particularly concerning for an agricultural nation like Pakistan. The Pakistan Economic Survey indicates that the per capita agricultural land area has shrunk to 0.15 hectares in 2023, down from 0.29 hectares in 1980. This decline starkly illustrates how population pressures are depleting agricultural resources.
Shaikhani cautioned that Pakistan’s rapidly increasing population could pose serious challenges to the nation’s economy, particularly for industrialists and business owners.
As the population grows, so too will the demand for energy and water, which could hinder industrial productivity, drive up production costs and erode the country’s competitiveness in the global market.
Copyright Business Recorder, 2024