A circular economy is a regenerative and restorative economic system that keeps resources in use for as long as possible, increasing their value, and decreasing waste. It is based on the principles of designing out waste and pollution, keeping products and materials in use, and regenerating natural systems. The concept of a circular economy is gaining momentum globally as it offers a sustainable path to prosperity and addresses the urgent need to reduce our impact on the environment.

According to a report by the Ellen MacArthur Foundation, only 9% of the global economy is circular, which means that 91% of the world’s resources are wasted. This is a concerning statistic as our linear economy, based on the take-make-dispose model, is putting a strain on our planet’s resources and contributing to environmental degradation.

A circular economy presents a significant opportunity for Pakistan, a country with a population of over 220 million and a fast-growing economy. Pakistan generates approximately 20 million tons of solid waste annually, of which only 48% is collected, and less than 10% is recycled. The country is facing a waste management crisis, with overflowing landfills and littered streets. The need for a circular economy in Pakistan is crucial to address this issue and transition towards a sustainable future.

Implementing a circular economy in Pakistan would not only address the waste management crisis but also offer economic opportunities. The recycling industry in Pakistan is estimated to be worth USD 1.5 billion, with the potential to grow to USD 5 billion by 2030. A circular economy could create green jobs, boost innovation, and drive economic growth while reducing the environmental impact.

To achieve a circular economy in Pakistan, there is a need for collaboration between the government, private sector, and civil society. The government can play a significant role by introducing policies and regulations that incentivize businesses to adopt circular practices. The private sector can take the lead by designing products and services that minimize waste and maximize value. Civil society can contribute by raising awareness and promoting sustainable lifestyles.

In conclusion, a circular economy presents a sustainable path to prosperity, which is urgently needed in Pakistan and globally. By adopting circular practices, we can create a regenerative and restorative economic system that benefits people, planet, and profit. It’s time to redesign our economy and transition towards a sustainable future.