On October 1, the world marked the UN International Day of Older Persons. For many in Pakistan, this may seem like a distant issue, as our public discourse continues to be dominated by the celebrated youth bulge. Yet, the numbers tell a different story. More than 13 million Pakistanis are already aged 60 and above. By 2050, this number will rise to 36 million — a population larger than today’s Karachi, Lahore, and Faisalabad combined.
While this demographic shift is often discussed only in terms of rising costs and dependency, there is another way to look at it. Around the world, policymakers and businesses are focusing on the silver economy — the economic and social value generated by older persons. For Pakistan, which faces fiscal pressures and limited resources, the silver economy could be a vital opportunity if embraced early.
### Older People Are More Than Dependents
Older people are not just dependents. They are living repositories of skills, knowledge, and experience. They are also active consumers, with needs that generate demand for new goods and services. Many are capable of extending their working lives, starting small businesses, mentoring younger workers, and caring for grandchildren — roles that often allow mothers to join the labour force.
In other words, ageing can be reimagined not as a looming social burden, but as an economic driver that strengthens families, communities, and markets.
### Ageing as a Phase of Renewal and Contribution
This is not just theory. In my earlier writing on active and healthy ageing, I emphasized that ageing should not be equated with inevitable decline. It can be a phase of renewal, creativity, and contribution. Across Pakistan, retired teachers still tutor neighborhood children, former engineers advise young entrepreneurs, and grandparents sustain family structures by providing unpaid care.
These roles are often invisible in GDP figures, but their contributions are undeniable. Economists call this intergenerational value creation — a process through which older persons transmit skills, stabilize communities, and help younger generations succeed.
Recognizing this is not about charity; it is about smart economics.
### Global Lessons on the Silver Economy
Experiences abroad show that the silver economy can be nurtured with policies and investments that unlock these hidden contributions. For example:
– **Germany and Japan** encourage phased retirement so older workers can gradually shift to part-time or flexible roles, rather than facing abrupt exit from the labour force. This retains expertise in companies and reduces pension burdens.
– Some governments offer tax incentives to firms that retain or rehire older employees.
– **Singapore** provides re-skilling programs and digital literacy classes to keep older workers employable.
– The **European Union** offers lifelong learning vouchers even in later life.
– **Mexico’s** non-contributory pension and **Brazil’s** micro-pension schemes guarantee minimum income security, even for those who spent their lives in informal work.
These examples matter for Pakistan.
### Opportunities for Pakistan
Pakistan already has a modest initiative, the Ehsaas Ba-Himmat Buzurg programme, which provides cash support to older persons. However, coverage is thin, benefits are limited, and inflation has eroded their value. Expanding this program into a universal old-age allowance, indexed to the cost of living, could drastically reduce vulnerability while providing a steady injection into local economies.
Every rupee transferred to older people tends to circulate quickly — into neighborhood shops, medicines, or school fees for grandchildren. Social protection for seniors is not dead weight; it is stimulus for communities.
### The Silver Economy and Market Potential
Around the world, industries from healthcare to housing, financial services to tourism are adapting to the needs of older consumers. Assistive devices, telehealth, senior-friendly housing, and leisure services are booming sectors. Governments often support these through grants, standards, and public-private partnerships.
For Pakistan, with its vibrant entrepreneurship and small business culture, this is an opportunity to create new jobs while meeting inevitable demand. Imagine locally manufactured low-cost hearing aids, age-friendly housing projects in expanding urban centers, or digital services tailored for older users. These are not merely welfare initiatives; they are market opportunities waiting for investors.
### Combating Ageism in the Workplace
Another lesson from abroad is the importance of tackling ageism. Despite cultural reverence for elders, Pakistani workplaces often treat older employees as expendable. Stereotypes about declining productivity or inflexibility lead to exclusion.
Yet research shows that intergenerational teams — combining youth’s creativity and senior experience — are more innovative and stable. Campaigns in Europe and East Asia have reframed ageing as an asset. Similar national efforts in Pakistan could transform workplace norms.
A society that values its elders is also one that better prepares for its own future.
### Shifting Perspectives on Ageing in Pakistan
At present, Pakistan’s discourse remains locked on dependency ratios and fiscal burdens. But three key opportunities emerge if we change our perspective:
1. **Harnessing Experience:** Enabling flexible work, second careers, and mentorship roles to tap decades of accumulated knowledge that often goes unused.
2. **Driving Demand:** Thriving industries from healthcare to leisure designed around older consumers’ needs.
3. **Reducing Dependency:** Preventive healthcare, lifelong learning, and digital inclusion to help seniors remain independent longer, easing pressure on families and the state.
Each requires deliberate policy shifts, but none is beyond reach.
### What Could a National Approach Look Like?
A practical shift would begin by adopting a National Framework on Active and Healthy Ageing based on health, participation, and security. This would bring together ministries of health, labour, planning, and social protection to work with a common vision.
It would mean investing in skills and digital literacy programs for older adults through universities, vocational institutes, and NGOs. Labour policies must be reformed to allow phased retirement, flexible contracts, and incentives for firms to rehire older workers.
Municipal governments must also invest in age-friendly infrastructure — accessible transport, safe walkways, housing adapted to mobility needs, and community spaces that keep seniors engaged.
Finally, Pakistan should encourage silver markets by supporting entrepreneurship in assistive technologies, healthcare services, and micro-pensions.
### A More Inclusive, Resilient, and Dynamic Economy
These reforms are not just about older persons; they are about making Pakistan’s economy more inclusive, resilient, and dynamic. They can reduce fiscal stress, generate new markets, and strengthen intergenerational solidarity.
Above all, they can help us see ageing not as decline, but as a second opportunity — both for individuals and for the nation.
### Conclusion: The Choice Ahead
As the UN International Day of Older Persons reminds us, societies worldwide are facing significant demographic shifts. The choice is whether to treat this as a crisis or an opportunity.
For Pakistan, still a young nation but rapidly ageing, the silver economy offers a chance to get ahead of the curve. We can continue to view older people as dependents to be carried, or recognize them as workers, mentors, innovators, and consumers whose contributions can uplift us all.
The dividends of the latter will not only improve the lives of our seniors but also strengthen our economy and social fabric. The promise of the silver economy lies before us — whether we seize it depends on how boldly we are willing to reimagine ageing.
https://www.thenews.com.pk/tns/detail/1348591-ageing-as-opportunity