Let’s get something straight… a PhD degree is primarily a research focused undertaking and prepares individuals to accept positions related to academic or industry research. Since a lot of formally funded research is conducted at academic institutions, universities and colleges provide the most common employment option for many PhDs.
By no means is a PhD a requirement to “teach” at higher education institutions… I have many colleagues with Master’s degrees who teach a variety of courses at the university level. If, however, you want to be involved in conducting or supervising research, then a PhD is a requirement.
Also, I should mention that as an alternative to a PhD, there are other terminal degrees such as the EdD, DEng, DSc and DBA that are often pursued by people who wish to work in professional settings other than academic environments.
Coming to the question of employment potential, despite the difficulty of obtaining a PhD, the academic sector is very competitive to get into. Many PhDs spend a long time in postdoc positions before obtaining suitable regular employment at educational institutions and I’ve been noticing this more year after year.
As far as the state of PhD in Pakistan, while I don’t have first-hand experience, I’ve heard about many horror stories… the most recent being the case of a substandard thesis in Physics that was accepted for a PhD and was severely criticized by various academics including Dr. Hoodbhoy and other international academics (Link: Letter to HEC on crackpotism (II)). I’m sure there are people who genuinely work hard for their degrees but cases like these don’t help their cause. Overall, a doctorate from Pakistan isn’t very well regarded internationally.
Also, if what people in this thread are saying is true e.g. a PhD completed in a matter of one or two years, or a PhD not being a challenging undertaking, then I have my doubts about the quality of the programs and value of the degree. At the very least, a PhD education involves learning about scientific research methods (about a year long undertaking) + developing and defending a research proposal (about a year) and then conducting research and writing and defending your thesis (another year)… for a total of 3 years… which is possible in some European countries. In North America, the time required is much longer… around 5 to 6 years due to additional coursework and Comprehensive exams that are required. I personally spent 6.5 years completing mine because I was also working full-time during the last few years of the PhD.
Rest assured, a PhD, if done right, is no menial task – it’s a challenge and requires a lot of sacrifices. Ask around and you’ll hear horror stories about people dropping out, family lives being affected etc. - it shouldn’t be pursued unless you really know what you’re getting into and you have a clear idea about the career pathway you wish to follow.