00:00It's coming into play in the largest scheme of things. So for decades, so for a very long time, our social spending, whether it's in health, whether it's in education, has been measured by inputs.
00:21How much of that budget is being allocated, projects which are being launched, and then ultimately about disbursement of funds.
00:34It's a very decisive shift, very decisive shift, and moving from spending to outcome.
00:45And the other very decisive shift is, which we have also referred to, is how we are going to move from public financing alone to structured public-private partnership, because that is going to bring sustainability.
01:00So I'm very privileged that about a year back, the Prime Minister asked me to chair a multi-stakeholder task force overall in terms of social impact financing.
01:16And we had the development sector experts. We had policy makers. We had technology partners. We had other partners, including BAT.
01:28We are very grateful to you, sir, for the guidance that we have provided, and, of course, practitioners like Bank of Punjab, who were present there,
01:38to essentially co-create the social impact financing framework. And this framework actually has two aspects to it. One is linked with the six priority pillars.
01:53One, and the first one, for which we are gathered here today, which is education and human capital. The second one, gender equality and empowerment, and the social impact,
02:06the skill bond actually has a component of that, and I'll talk about that. The third one, health and well-being, population stabilization, climate resilience.
02:17I've been very vocal. I've been very clear. These are two existential threats for Pakistan. And then the last one, obviously, being poverty alleviation.
02:27What is the how part and the measurability part of the Executive Director, Saab Nejeski Baad Ki, having predefined targets,
02:35independent verification, time-bound delivery, and fiscal accountability.
02:42Now, coming to the first use case, and that's how I see it. Under this framework,
02:50Joe Abiyaj, Apne Outcome Linked Performance Based Pakistan Skills Impact Bond, which is being launched by Navtech,
03:00from my perspective, is one of the best examples of how we can take things forward. So I'm very grateful to you in terms of how you have taken it forward
03:11with your leadership, and today we are getting there. Now, there's also a particular focus on young women.
03:21And that's why BAT has recommended that at least 40% of the trainees to be women. And the program is, therefore, designed to incentivize job placement
03:36and retention of women. And I think that's absolutely critical. If we have to take our country forward, the productivity,
03:44which is going to have women coming in into the workforce, and not only into the workforce, but even more importantly,
03:52in leadership positions going forward, is going to play a very, very critical role in terms of how we take the country forward.
04:00Ministry of Finance Ji, Apne Uuska Zikr Kiya, Apne Uuska Zikr Kiya, Apne Uuska Zikr Kiya.
04:06And I'm grateful ki Apne Uuska Zikr Kiya. And I'm grateful ki Apne Uuska Zikr Kiya.
04:10We have provided a billion rupee guarantee essentially to crowd in the private capital and established credibility.
04:18This is catalytical, right? And not structural. So this is about the proof of concept and getting the pilot going.
04:35And based on the success of this bond and its impact, inshallah, the future roadmap we should also be
04:44.
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