Home Business JS Bank aids Karigar Training Institute in enhancing students’ skills

JS Bank aids Karigar Training Institute in enhancing students’ skills


News Desk |

The low skill level in the labor force is a major constraint in Pakistan which hinders economic growth, job creation, a competitive manufacturing industry, and makes poverty alleviation difficult. Yet little has been done by successive governments to improve technical and vocational education and training. The country’s existing technical and vocational education network covers a very small proportion of the population and the skill needs of the economy.

A vast majority of businessmen consider the shortage of skilled manpower as big a problem as it raises their cost of production, affects their global competitiveness as much as the energy crunch or the security conditions do. It is in this context that various not for profit organizations have stepped up to help people acquire the skills which they can use to help enrich their lives.

One such organization is the Karigar Training Institute (KTI). Established in March 2009, Karigar Training Institute (KTI)’s vision is to enable young, literate and semi-literate men and women from less privileged sections of society to become economically independent, through an acquisition of specialized vocational skills and good work ethics. So far, more than 1,200 young men have been trained to become Electricians, Refrigeration & Air-conditioning mechanics, Pipe Fitting/ Plumbers, and Motorcycle Mechanics.

To uplift the down-trodden masses, JS Bank has joined hands with Karigar Training Institute (KTI), a non-profit organization which provides training in vocational skills for mechanics, electricians, and plumbers.

KTI trainees or alumni can now become independent entrepreneurs by availing financing solutions through the JS Prime Minister Youth Business Loan (PMYBL) scheme, at a highly subsidized mark-up rate of 6% per annum. Applicants aging between 21 & 45 years, with entrepreneurship and business management skills imparted through Karigar, are eligible to apply for the scheme.

Our country is full of highly talented and skilled folks waiting for opportunities to strike them. Hence, efforts like these from established national organizations, are highly appreciated in favor of struggling Pakistani citizens.

Karigar Training Institute’s vision, according to their website is, ‘to contribute towards social stability by enabling young, literate and semi-literate men and women from less privileged sections of society to become economically independent, through acquisition of specialized vocational skills.’They have enabled unemployed individuals to start their own workshops, attain jobs at well-known companies and ultimately stand on their own feet!

Reflecting on this alliance, Mr. Babbar Wajid, Head of Product Development & Business Management, JS Bank stated, “Through this partnership, we aim to open doors to the common man who struggles to become financially independent. I am positive that this is just the start to something much bigger that can bring about a change we require in the social & economic sectors of Pakistan.”

Speaking at the occasion, Commodore (Retd.) S. Rashid Ullah, Director Operations, Karigar Training Institute, stated: “We highly appreciate JS Bank’s initiative towards enabling these young individuals and ensure full support from Karigar Training Institute in this respect”.

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JS Bank, one of Pakistan’s leading and fastest growing financial institutions is continually undertaking efforts to drive economic growth and development in Pakistan. Our country is full of highly talented and skilled folks waiting for opportunities to strike them. Hence, efforts like these from established national organizations, are highly appreciated in favor of struggling Pakistani citizens.