Prime minister directed that further steps should be taken to enhance the capacity of the youth
PM Shehbaz Launches Pakistan’s First Skills Impact Bond to Boost Youth Employment
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday greenlit Pakistan’s pioneering Skills Impact Bond – an innovative financing model designed to attract private investment for youth skill development and job creation.
Presiding over a high-level meeting on employment generation strategies, the PM endorsed this “Pay-for-Success” initiative where funding disbursement will be contingent on independently verified outcomes like job placements or income benchmarks being achieved.
Key Features of the New Model:
- Focuses on teaching market-relevant skills aligned with current industry demands
- Aims to transform youth into productive contributors to economic growth
- Links financial incentives to measurable employment results
PM’s Directives for Youth Empowerment:
- Enhanced Training Programs:Ordered expansion of skill development initiatives matching contemporary job market needs
- Foreign Language Training:Emphasized teaching overseas languages to improve global employability
- Digital Outreach:Called for awareness campaigns about opportunities on the Digital Youth Hub platform
- Progress Monitoring:Will personally review implementation progress bi-monthly
Employment Landscape Snapshot:
- Digital Youth Hub registrations crossed 500,000 with 1.7M+ app downloads
- 500+ companies registered offering 47,000+ domestic jobs
- 100,000+ international job vacancies available
- 2,000+ scholarships accessible
- Network includes 500+ entities from embassies to UN agencies
The Prime Minister lauded the performance of relevant ministries and institutions, terming youth development as “the nation’s most valuable investment.” He stressed that equipping young Pakistanis with employable skills would fundamentally transform the country’s economic trajectory.
Federal Ministers Ahad Cheema and Attaullah Tarar, along with PM’s Youth Program Chairman Rana Mashhood and other senior officials attended the strategy session. The government reaffirmed its commitment to creating comprehensive pathways for both domestic and international employment opportunities.
This groundbreaking skills financing model represents a paradigm shift in Pakistan’s approach to human capital development, prioritizing results-based interventions to bridge the skills gap and unlock the demographic dividend.
