Latest news with #DigitalYouthHub
Business Recorder
4 days ago
- Business
- Business Recorder
PM Shehbaz approves first-ever ‘Skills Impact Bond'
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday approved the country's first-ever Skills Impact Bond, a performance-based financing model aimed at equipping the country's youth with employable, demand-driven skills to enhance their participation in national and global labour markets. The decision was taken during a high-level review meeting chaired by the prime minister on the youth employment roadmap. The Skills Impact Bond, based on a 'Pay-for-Success' mechanism, will attract private sector investment for skill development, with public or donor funds disbursed only upon achievement of independently verified outcomes such as job placements or income thresholds. PM Shehbaz directs modern IT training for youth to make Pakistan regional tech hub Highlighting the centrality of youth in Pakistan's economic development strategy, Sharif directed officials to enhance training opportunities in modern and market-aligned skill sets. 'Pakistan's talented youth are the country's most valuable asset,' he said, adding that providing quality education and employable skills would change the country's destiny. The prime minister stressed the need to prepare skilled individuals for overseas employment, including through training in local languages of potential destination countries. He instructed that a detailed roadmap, based on estimated job opportunities both domestically and internationally, be submitted for review. 'I will personally assess progress every two months,' he added. Sharif also called for a targeted awareness campaign to inform the masses, particularly the youth, about employment opportunities available through the government's Digital Youth Hub platform. Officials informed the meeting that more than 500,000 individuals have registered on the Digital Youth Hub, while over 1.7 million have downloaded the mobile application. The platform currently lists over 47,000 domestic job vacancies, 100,000 overseas opportunities, and more than 2,000 scholarships. Additionally, over 500 institutions – including Pakistani embassies, private companies, government agencies, and international NGOs such as the United Nations – are linked to the portal. The performance of relevant departments, including the Prime Minister's Youth Programme, Ministry of Overseas Pakistanis, and the National Vocational and Technical Training Commission (NAVTTC), was reviewed and termed satisfactory by the prime minister. He emphasised the importance of continued collaboration among these institutions to ensure tangible outcomes. The meeting also discussed annual employment estimates under the youth programme, which aims to promote self-sufficiency, entrepreneurship, and direct employment through targeted interventions. Federal Ministers Ahsan Iqbal and Attaullah Tarar, Chairman of the Prime Minister's Youth Programme Rana Mashhood Ahmad Khan, MNA Amna Batool, and senior government officials attended the meeting. Copyright Business Recorder, 2025
Express Tribune
4 days ago
- Business
- Express Tribune
PM approves Skills Impact Bond for youth
Listen to article Prime Minister Shehbaz Sharif on Friday approved Pakistan's first Skills Impact Bond — a modern model that will attract private investment to make youth employable. He approved the project while chairing a review meeting here on the roadmap for providing employment to the youth. Under the new model, youth will be taught skills that are in line with contemporary requirements, which will empower and enable them to play an important role in the country's economic development. The model is called "Pay-for-Success", under which public or donor funds are released only when independently verified results, such as job creation or a certain threshold of income, are achieved. Speaking at the meeting, the prime minister directed that further steps should be taken to enhance the capacity of the youth, train them in skills that are in line with contemporary requirements, and ensure employment after training. He expressed satisfaction at the performance of the Prime Minister's Youth Programme, the Ministry of Overseas Pakistanis Affairs, National Vocational and Technical Training Commission and all related institutions, in providing employment to the youth. He said opportunities should be provided to youth for learning the local languages of other countries to assist them in finding employment abroad. A comprehensive roadmap based on the estimated number of job opportunities and hiring of youth in Pakistan and abroad should be presented, he said adding he will review the progress of implementation of the roadmap after every two months. The prime minister said training of skilled people for employment abroad should be given priority. A campaign should be launched to make the youth aware of the employment opportunities available on the Digital Youth Hub, he asserted. He said Pakistan's talented youth were its most valuable asset. Providing employable education and skills to the youth will change the destiny of the country, he said adding Pakistan's talented youth were making their country's name shine all over the world. The meeting was informed that the federal government, on the instructions of the Prime Minister, was taking comprehensive steps to ensure employment of youth in Pakistan and abroad along with providing skills and education to make them employable. The participants were told about the annual estimate of employment provision to the youth in Pakistan and abroad under the new programme. The programme will empower the youth and assist them in self-sufficiency, entrepreneurship and direct job placement. The meeting was informed that more than 500,000 people have registered under the Digital Youth Hub so far, while more than 1.7 million people have downloaded its application. In addition to that more than 500 companies got registered. There were more than 47,000 employment opportunities in Pakistan and more than 100,000 jobs were available abroad besides availability of more than 2,000 scholarships. More than 500 institutions, including Pakistani embassies abroad, government agencies, private companies and other NGOs, including the United Nations, are connected to the portal. Federal Ministers Ahad Khan Cheema, Attaullah Tarar, Chairman Prime Minister's Youth Programme Rana Mashhood Ahmed Khan, Member National Assembly Amina Batool and relevant senior officials attended the meeting.
Business Recorder
4 days ago
- Business
- Business Recorder
PM approves first-ever ‘Skills Impact Bond'
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday approved the country's first-ever Skills Impact Bond, a performance-based financing model aimed at equipping the country's youth with employable, demand-driven skills to enhance their participation in national and global labour markets. The decision was taken during a high-level review meeting chaired by the prime minister on the youth employment roadmap. The Skills Impact Bond, based on a 'Pay-for-Success' mechanism, will attract private sector investment for skill development, with public or donor funds disbursed only upon achievement of independently verified outcomes such as job placements or income thresholds. PM Shehbaz directs modern IT training for youth to make Pakistan regional tech hub Highlighting the centrality of youth in Pakistan's economic development strategy, Sharif directed officials to enhance training opportunities in modern and market-aligned skill sets. 'Pakistan's talented youth are the country's most valuable asset,' he said, adding that providing quality education and employable skills would change the country's destiny. The prime minister stressed the need to prepare skilled individuals for overseas employment, including through training in local languages of potential destination countries. He instructed that a detailed roadmap, based on estimated job opportunities both domestically and internationally, be submitted for review. 'I will personally assess progress every two months,' he added. Sharif also called for a targeted awareness campaign to inform the masses, particularly the youth, about employment opportunities available through the government's Digital Youth Hub platform. Officials informed the meeting that more than 500,000 individuals have registered on the Digital Youth Hub, while over 1.7 million have downloaded the mobile application. The platform currently lists over 47,000 domestic job vacancies, 100,000 overseas opportunities, and more than 2,000 scholarships. Additionally, over 500 institutions – including Pakistani embassies, private companies, government agencies, and international NGOs such as the United Nations – are linked to the portal. The performance of relevant departments, including the Prime Minister's Youth Programme, Ministry of Overseas Pakistanis, and the National Vocational and Technical Training Commission (NAVTTC), was reviewed and termed satisfactory by the prime minister. He emphasised the importance of continued collaboration among these institutions to ensure tangible outcomes. The meeting also discussed annual employment estimates under the youth programme, which aims to promote self-sufficiency, entrepreneurship, and direct employment through targeted interventions. Federal Ministers Ahsan Iqbal and Attaullah Tarar, Chairman of the Prime Minister's Youth Programme Rana Mashhood Ahmad Khan, MNA Amna Batool, and senior government officials attended the meeting. Copyright Business Recorder, 2025
Arab News
5 days ago
- Business
- Arab News
Pakistan approves Skills Impact Bond for youth employment through private investment
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday approved Pakistan's first Skills Impact Bond, a new financing model aimed at mobilizing private investment to equip young people with market-relevant skills and improve their access to employment, both at home and abroad. The approval came during a high-level meeting in Islamabad focused on youth employment. According to a statement from the Prime Minister's Office, the initiative is part of a broader government effort to align vocational training with labor market demands and make Pakistani youth self-reliant through entrepreneurship and income-generating opportunities. The model, also known as 'pay-for-success,' links funding to independently verified outcomes such as job placement or minimum income levels. 'Pakistan's talented youth are the country's greatest asset,' the prime minister said at the meeting. 'By equipping them with education and skills tailored to market needs, we will transform the future of this nation.' Sharif instructed federal ministries and agencies to accelerate skills training, expand employment outreach through digital platforms and present a comprehensive roadmap based on estimates of domestic and overseas job opportunities for Pakistani youth. The prime minister approved a public awareness campaign to promote the use of the Digital Youth Hub, which has already registered over 500,000 users. The platform currently lists over 47,000 job openings in Pakistan and more than 100,000 overseas, along with 2,000 scholarship opportunities. He also emphasized preparing skilled workers specifically for international job markets and directed relevant departments to offer foreign language training for countries with high demand for labor.
Business Recorder
22-07-2025
- Business
- Business Recorder
Dar urges urgent global financial reforms to save SDGs at UN Forum
NEW YORK: Pakistan's Deputy Prime Minister Ishaq Dar delivered a strong call for sweeping global financial reforms during his address at the UN High-Level Political Forum (HLPF) debate, warning that the world is far off track in achieving the 2030 Sustainable Development Goals (SDGs). He stated that with only five years left until 2030, just 35 percent of the SDGs are currently on course. The Deputy Prime Minister blamed the reversal in development progress on the compounded impacts of the COVID-19 pandemic, global food, fuel, and financial crises, and the growing intensity of climate change—all of which have undermined hard-won gains and worsened inequality worldwide. Despite these global setbacks, Dar emphasised that Pakistan remains fully committed to the 2030 Agenda. He highlighted that the country's national development strategies, including its 'Udan Pakistan' framework, are closely aligned with the SDGs. Dar said Pakistan's social protection initiatives, such as the Benazir Income Support Programme and the Benazir Nashonuma child development scheme, are aimed at ensuring inclusivity and preventing marginalisation. To empower the youth, Pakistan has launched the Digital Youth Hub, while efforts are underway to expand access to quality education through smart schools and new university campuses. On the climate front, Dar noted Pakistan's ambition to achieve 60 percent renewable energy by 2030, along with resilience-building projects like Recharge Pakistan and the Living Indus initiative. He added that the country's updated Nationally Determined Contribution (NDC) on climate action is in its final stages. Alongside its climate efforts, the government has introduced key economic reforms to ensure fiscal stability and create a more investor-friendly environment. He said that the Special Investment Facilitation Council (SIFC) is playing a central role in attracting foreign direct investment into key sectors of the economy. However, Dar cautioned that national-level efforts alone are insufficient to bridge the global development gap. He stressed the need for deep reforms in the international financial architecture to support SDG implementation, particularly in developing countries. He called for expanded access to concessional and grant-based resources, meaningful debt relief, and increased climate finance to enable countries like Pakistan to meet the financial requirements of sustainable development. Dar referenced the Compromise of Seville, adopted at the Fourth World Conference on Finance for Development, describing it as a clear and actionable roadmap. He urged the global community not to delay its implementation any further. As the world marks the 80th anniversary of the United Nations, Dar said the Secretary-General's UN80 initiative provides a critical opportunity to strengthen the UN's three core pillars—peace, development, and human rights—and to ensure that the SDGs are achieved on time, not just in principle but in practice.
