Knowledge economies tend to value knowledge, promote ideas, encourage innovation and develop talent and human resources. Pakistan can become a knowledge economy, however, the path is perilous. Pakistan does not value innovation. We are a nation still creating clutter by using paper while the world has accepted working in a paperless environment. Recently, the enthusiastic spectators visiting Karachi’s National Stadium were asked to bring printouts of a ticket that already has a QR code imprinted on it. Such instances make us wonder if we are indeed living in the era of the fourth industrial revolution.
Knowledge in Pakistan, unfortunately, is limited to books, which are read by only a handful of enthusiasts. The textbooks are written by Western authors that present a perspective unfamiliar to the students living in Pakistan. Developing Pakistan into a knowledge economy will not be an easy task. We need to build our educational infrastructure to encapsulate the young minds to think and act.
There is something wrong with our education system, to put it very honestly. Our schooling system is based on a century-old concept of rote learning and focusing on the lecture instead of enhancing the students’ cognitive skills. Perhaps the educational system only encourages or compels them out of fear to earn good grades. This system must change as it only favours a handful of students who are attuned to understanding the concepts of science and commerce subjects. What about the artists and the creative thinkers? There is no room for them nor does society accept them as professionals.
A knowledge economy is formed when knowledge is used as a currency. It is accumulated with people sharing ideas and deliberating upon solutions to social problems. It is created when mentors share experiences with the students who are then encouraged to plan and act on a business plan.
Knowledge, therefore, becomes a source of knowledge creation and competitiveness. This leads to investments in research, innovation, and technology. In light of this, the very foundations of education and research in Pakistan need to be realigned with industry and market trends. Educational institutions including schools, colleges, business schools, and universities cannot survive in isolation. Schools and especially colleges must create incubation centres where students and faculty are encouraged to work in collaboration to work on their business ideas. This cannot be done until our educational system is restructured to facilitate building a knowledge economy. The syllabus and course content have to be simplified, reorganized, and modernized. It must be aligned with national and international trends.
A policy should be developed to bring all educational institutions under the umbrella of an innovation initiative. The faculty members from various disciplines may work in collaboration with industry experts, mentors, and investors who guide students in developing a business model, fine-tuning their pitches and helping them establish their start-ups. Without a cohesive strategy to combine focused minds and concentrated efforts, the vision of Pakistan to become a knowledge economy will only remain a dream.