LAHORE: The Punjab Skills Development Fund (PSDF) and the Bank of Punjab (BOP) have signed an agreement to operationalise the Chief Minister’s Parwaaz Card Scheme for International Placement, aimed at improving access to finance for young people seeking employment opportunities abroad.
The agreement was signed by BOP Chief Digital Officer Nofel Daud and PSDF Chief Executive Officer Ahmed Khan. The partnership establishes an outcome-based model designed to address the upfront costs associated with overseas employment for skilled youth in Punjab.
Under the scheme, eligible candidates in sectors including construction, retail, caregiving, hospitality and related industries will be able to access interest-free loans of up to Rs1 million to cover pre-departure expenses, facilitating their transition to international employment. The initiative aims to support 45,000 beneficiaries over the next two years.
“With the Parwaaz Card, Punjab is investing in young people’s access to overseas employment opportunities while strengthening the economy through foreign remittances,” said Adnan Afzal Chattha, chairperson of the Chief Minister Punjab Taskforce on Skills Development.
“This initiative reflects Pakistan’s significant potential to export trained human capital, which was a key factor behind the development of the Parwaaz Card,” said Nadir Chattha, Secretary of the Skills Development and Employment Department (SD&ED).
Under the arrangement, the PSDF will be responsible for applicant onboarding, facilitation and coordination with Overseas Employment Promoters (OEPs), while BOP will oversee know-your-customer (KYC) verification, loan appraisal, approval, disbursement and repayment.
BOP President Zafar Masud said the bank was coordinating with the State Bank of Pakistan (SBP) to explore early access to Roshan Digital Accounts for Parwaaz Card holders.
Ahmed Khan, chief executive officer of the PSDF, said: “With the Parwaaz Card and our partnership with BOP, we are ensuring that the journey towards international placement is not hindered by financial barriers.”
Nofel Daud, chief digital officer at BOP, added: “Through our lending infrastructure, we are creating a model that is not only impactful but also sustainable.”The two organisations said the partnership aims to strengthen the institutional framework for a skills export ecosystem by connecting Punjab’s skilled workforce with international demand while supporting remittance flows to the province and the country.
