Pakistan Business Council warns of brain drain risk

The Pakistan Business Council (PBC), a prominent corporate advocacy platform in Pakistan, has expressed serious apprehensions regarding the potential consequences of the proposed budget adjustments on salaried employees. In a letter dated June 20, 2024, the PBC cautioned that these modifications might hasten the departure of skilled professionals from the country. Citing statistics from the recently released Pakistan Economic Survey 2023-24, the PBC highlighted a noticeable increase in the number of highly educated individuals actively seeking employment opportunities abroad.

The concerns raised by the PBC stem from the anticipated effects of the proposed budget changes on the financial well-being of salaried workers in Pakistan. The organization emphasized the importance of retaining skilled professionals within the country to support economic growth and development. The potential exodus of talented individuals could lead to a brain drain, depriving Pakistan of valuable human capital and expertise.

The warnings issued by the Pakistan Business Council underscore the significance of carefully evaluating the impact of budgetary decisions on various segments of the workforce. It is imperative for policymakers to consider the long-term implications of such changes to ensure the retention of skilled professionals and foster a conducive environment for economic prosperity in Pakistan.