SECP signs MoU to expand its financial literacy initiative to Balochistan

Author: inp

The Securities and Exchange Commission of Pakistan (SECP) has said that equitable access to quality education, financial literacy, and inclusion is critical for the financial well-being and long-term economic and social development of all regions of Pakistan.

The SECP with the same perspective has signed a Memorandum of Understanding (MOU) with the School Education Department of Balochistan, expanding its investor education initiative “Jamapunji” to the schools and education institutions of Balochistan.

Balochistan’s Secretary School Education Department, Mr. Saleh Muhammad Nasir and the SECP’s head of Investor Education Mr. Osman Syed signed the MoU. The MoU was aimed to integrate financial literacy topics into the curriculum of province schools and colleges, equipping educators with necessary skills through a teacher’s training program, and conducting interactive seminars for students in Balochistan.

Minister Education Balochistan, Ms. Raheela Hameed Khan Durrani, Secretary Federal Education and Professional Trainings, Mr. Mohyuddin Ahmad Wani and other senior officials witnessed the ceremony at the Ministry of Federal Education of Professional Training.

Addressing the signing ceremony, Ms. Durrani said that people in far-flung areas appear to be more vulnerable to financial shocks, income as well as saving levels are quite low; the situation makes it compulsory to educate the youth of Balochistan with the required financial literacy skills. Osman told participants that under the JamaPunji initiative, the students will learn fundamental concepts like as budgeting, saving, investing, and debt management. Awareness of financial risks and responsibilities reduces their vulnerability to financial pitfalls, such as debt accumulation and poor investment choices.

Mohyuddin Ahmad Wani, Secretary, Ministry of Federal Education and Professional Training, emphasized the federal government’s steadfast commitment to advancing financial literacy initiatives. Mr. Wani also highlighted the pivotal role of a financially literate youth population in driving economic growth through fostering a culture of savings, investment, and entrepreneurship.