Lahore University of Management Sciences, Social Enterprise Development Centre in collaboration with Citi Foundation launched a project, titled "Living Literacy, Changing Lives: Citi-LUMS Youth Initiative" to undertake the citi-youth project. Young people are not aware of the basics of saving and investing money. Therefore, to help them deal with this issue they need better education and access to critical resources in order to make smarter decisions.
The project aims to inculcate the youth with basic understanding of saving and investing, enabling them to efficiently manage their finances and cope with tough financial decisions. Under the umbrella of the project LUMS-SEDC held a three-day workshop, "National Financial Literacy Workshop for Youth" from July 22-24, 2011.
The workshop was conducted with the LUMS-National Outreach Programme (NOP) students. A series of interactive lectures were given over the course of three days by Professor Dr Zeeshan Ahmed of LUMS to a group of 55 students. These students were from different cities and different socio-economic backgrounds of Pakistan.
The NOP recruits deserving candidates with weak financial background from all over Pakistan. The students were given proper training and eventually given the opportunity to study at LUMS on full scholarships. The workshop aimed at training students to enable them face economic challenges and handle their finances better. The students discovered the basics of the balance sheet and the income statement. They also learnt about investment opportunities, budgeting through some realistic examples and interesting case studies.