PM Shehbaz approves Skills Impact Bond to boost youth employment

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday officially approved the launch of Pakistan’s first Skills Impact Bond, an innovative project designed to encourage investment for fostering youth employment in Pakistan, ARY News reported.

Skills Impact Bond is the first modern financing model of its kind, which is based on the “Pay-for-Success” agenda.

Shehbaz Sharif approved the model during a high-level review meeting, emphasising the value of integrating workforce development with modern market needs.

Under the Skills Impact Bond, in-demand skills will be given to young individuals to prepare them for active participation in the country’s economic development through their skills.

According to the initiative, skilled professionals will be prepared for overseas employment, which includes language training to improve global job prospects.

Shehbaz Sharif expressed delight with the performance of the other initiatives, including, Prime Minister’s Youth Program, the Ministry of Overseas Pakistanis, and the National Vocational and Technical Training Commission.

Shehbaz Sharif directed relevant authorities to present a complete roadmap specifying both domestic and international youth employment chances and announced that he would personally monitor progress after every two months.

PM Shehbaz emphasised that the most valuable asset of Pakistan is its talented youth.

Shehbaz Sharif also called for a nationwide education campaign to encourage the Digital Youth Hub, which currently hosts over 47,000 job opportunities in Pakistan and more than 100,000 abroad, along with 2,000+ scholarships.

Federal Ministers Ahad Khan Cheema, Attaullah Tarar, Chairman of the Prime Minister’s Youth Programme Rana Mashhood Ahmed Khan, and other senior authorities were also part of the meeting, encouraging the launch of Skills Impact Bond.