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.
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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
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