ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday instructed officials to establish a comprehensive database identifying skills required to strengthen local industries and enhance opportunities for Pakistani workers abroad, while chairing a meeting that approved the National Youth Employment Plan.
Last month, Sharif directed his administration to prioritize youth skill development for global employment as part of efforts to increase remittances. The government is striving to train young people in sectors with high employment potential, aiming to curb rising discontent in a country still grappling with the aftermath of a prolonged economic crisis, despite gradual improvement in macroeconomic indicators.
“The prime minister has approved a plan to equip youth with training programs aligned with industry demands and labor market needs,” the PM Office said in a statement.
“The prime minister directed continuous engagement with local industries for training young people in various sectors while considering the demand of international labor markets,” it continued. “He also instructed the establishment of a comprehensive database outlining the skills required by local industries.”
Sharif called Pakistan’s youth the country’s most valuable asset, adding that empowering them through professional training and equipping them with essential skills was important to help them secure employment.
During the meeting, officials briefed him on the four-year plan, outlining strategies to create employment opportunities for youth across various institutions.
According to the plan, between 2.4 million and 6 million young people will receive vocational training annually over the next four years, increasing their chances of securing jobs locally and abroad.
Officials said training programs are being designed with input from domestic industries and international labor demand assessments.
Sharif was also informed that the Digital Youth Hub, aimed at providing online learning and employment resources, is in its final stages and will be launched later this month.
Pakistan PM directs creation of skills database to boost local industries, overseas employment
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Pakistan PM directs creation of skills database to boost local industries, overseas employment
- Sharif approved the National Youth Employment Plan to equip people with skills aligned with industry demands
- Pakistan plans to launch the Digital Youth Hub this month to provide online learning, employment resources
Pakistan launches crypto testing framework to regulate digital assets
- Regulatory ‘sandbox’ to let firms test crypto products under supervision
- Move comes amid broader push to formalize Pakistan’s digital asset sector
ISLAMABAD: Pakistan’s Virtual Assets Regulatory Authority (PVARA) on Friday launched a crypto testing framework to regulate digital assets, allowing firms to trial new products and services under official supervision.
The initiative, formally structured as a regulatory “sandbox,” creates a controlled environment where companies can test crypto-related services under the oversight of the regulator before full-scale approval.
According to PVARA, the sandbox will support real-world use cases including tokenization, stablecoins, remittances and on- and off-ramp infrastructure.
Tokenization refers to converting real-world assets into digital tokens on a blockchain, while stablecoins are cryptocurrencies pegged to a fiat currency to maintain a stable value. On- and off-ramp infrastructure allows users to convert between fiat money and digital assets, enabling the practical use of virtual asset products.
“The Pakistan Virtual Assets Regulatory Authority has formally approved and launched its Regulatory Sandbox for virtual assets,” PVARA said in a post on X. “Sandbox Guidelines and the application process will be published shortly on our website.”
The move comes as the government seeks to build a formal regulatory framework for digital assets while attracting investment and strengthening oversight of the sector.
Pakistan has stepped up efforts recently to regulate its digital asset sector and is exploring digital currency initiatives as part of broader measures to reduce cash usage.
In January, Pakistan signed a memorandum of understanding with a company affiliated with World Liberty Financial, a crypto-based finance platform launched in September 2024 and linked to US President Donald Trump’s family to explore the use of a dollar-linked stablecoin for cross-border payments.
