PIBF, Lahore Leads University sign MoU to promote youth skills and entrepreneurship

By Commerce Reporter 

LAHORE: The Pak International Business Forum (PIBF) has signed a Memorandum of Understanding (MoU) with Lahore Leads University to promote skills development, improve youth employability, encourage entrepreneurship and create economic opportunities for young people in Pakistan.

Under the theme “Transform Your Destiny Through Skills and Business, and Become the Pride of Your Homeland,” the two organisations will work together to strengthen industry-academia linkages, promote technical and vocational training, and develop a skilled workforce aligned with industry needs.

The initiative assumes significance as Pakistan Bureau of Statistics data for 2020-21 showed that 32.5 per cent of young people aged 15–24 were not in education, employment or training, while youth unemployment stood at 11.1 per cent. The figures highlight the urgent need to equip young people with practical, market-oriented skills and improve their access to productive employment.

PIBF Central President Dr Mushtaq Mangat and General Secretary Muhammad Ejaz Tanveer said the MoU was a step towards coordinated, results-oriented efforts to address youth unemployment, improve technical and vocational training, and expand sustainable economic opportunities. They stressed that Pakistan’s large youth population could become a major driver of economic growth if equipped with relevant skills and provided access to employment and entrepreneurship.

They observed that the mismatch between education, workforce skills and industry requirements was limiting the country’s ability to fully harness its demographic potential. A skilled workforce, they added, could improve productivity, strengthen business competitiveness, support industrial growth and generate employment.

The PIBF leaders emphasised the need for a comprehensive approach encompassing technical and vocational education, digital skills, entrepreneurship and practical training, with stronger collaboration between universities, training institutions and industry. Internships, apprenticeships and industry-linked training programmes should be expanded to help young people transition from education to employment.

They also called for greater support for young entrepreneurs through access to finance, business mentorship and a business-friendly regulatory environment, enabling them to establish enterprises, create jobs and contribute to the national economy.

The forum urged the government, private sector, educational institutions and other stakeholders to invest in youth skills development and build a demand-driven training system. It stressed that converting Pakistan’s youth bulge into a demographic dividend was essential for higher productivity, poverty reduction and sustainable economic growth.