The Khyber Pakhtunkhwa Government has launched youth skills program worth four billion rupees to allievate poverty and combat unemployment.
Besides youth skills program worth four billion rupees, the KP government has also launched Rural Economic Transformation Project worth Rs.11.4 billion and upgradation of technical educational institutes, and an on-job training program for Technical Education & Vocational Training Authority (TEVTA) graduates.
The spokesman of KP Technical and Vocational Education Department told APP on Wednesday that youth skills program would be implemented through Akhuwat Microfinance, aims to provide interest-free loans of up to Rs 500,000 to skilled youth for start-ups and entrepreneurs.
The provincial government has allocated 2 billion rupees for this initiative in the current fiscal year. More than 35,000 skilled youth are expected to benefit from the program.
The Rural Economic Transformation Project was launched in collaboration with IFAD and the European Union. This important project of Rs11.4 billion will offer free technical and vocational training to 60,000 youth males and females from rural areas. Additionally, financial assistance averaging $300 per person will be provided to 42,000 skilled individuals to promote self-employment. The program will also facilitate internships and employment for 25,000 TEVTA graduates.
The third important initiative regarding upgradation of the selected Technical and Vocational Educational Institutes would be funded by GIZ-European Union. Under the initiative, two Government Colleges of Technology in Nowshera and Abbottabad would be upgraded to the status of Centers of Excellence. Moreover, 22 technical institutions across the province will be upgraded into model institutes, and nine other institutes have been selected to offer DAE Level-5 certifications.
On the Job Training Program for TEVTA graduates has been launched with investment of Rs 177 million. Under this program over 3,000 graduates would be placed in the selected industries for internships in a phased manner. In the first phase, 168 students will be offered three-month internships, each receiving a monthly stipend of Rs 15,000.
The cost of the first phase is estimated at Rs 7.56 million.
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