Pakistan has launched the first-ever private-capital-funded Pakistan Skills Impact Bond (PSIB). It is backed by a guarantee from the Ministry of Finance to operationalize the inaugural one billion rupees pilot tranche of a three-year instrument to fund a wider and scalable Technical Skills Development Programme.

The launch ceremony, which also featured the signing of Financing Documents including Investor and Issuer Agreements, was attended by senior government officials, development partners, private sector leaders and representatives of international organizations.

Speaking at the event, Finance Minister Muhammad Aurangzeb underscored the transformational importance of the PSIB in Pakistan’s broader economic reform agenda and human capital strategy. He described the day as an important moment focused on education and training, reiterating that Pakistan’s demographic dividend can only be realized if the country succeeds in upskilling and reskilling its youth.

Federal Minister for Education & Professional Training, Dr. Khalid Maqbool Siddiqui described the Signing Ceremony as a major step toward a better Pakistan and a better future. He emphasized that Pakistan stands at a decisive crossroads and that commitment, coordination and well-thought-out action are essential to meeting national challenges.

Credit: Independent News Pakistan (INP)