LAHORE – Punjab becomes the 1st province to pass the Apprenticeship Act 2021 while replacing the Apprenticeship Ordinance1962 after 60 Years to provide Skilled Youth with better Economic Opportunities and the Industry with Skilled Labour according to their specifications.
The New Act has made fundamental changes to the previous law from being applicable only to the Manufacturing Sector to now covering all Sectors of the Economy.
The New Law has also done away with Time-Consuming Procedures for Approvals Related to Apprenticeship Program Registration while the new law has also empowered provincial TVET Assessment bodies such as PBTE for examination on the footprint of CBT&A, an internationally recognized teaching and assessment system initiated by Tevta Punjab in their Institutes.
https://twitter.com/AliSalmanPTI/status/1405865865761931272
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Chairperson Ali Salman Siddique has said that the Apprenticeship Act is a Critical Step towards Realization of Our Vision 2023 which Focuses on Quality Demand Driven Skills with Economic Opportunities for our Trainees where they will not only be given Technical and Vocational Education in our Institutes but also On the Job Training in Industry. This is in line with the Prime Minister Vision of 10 million jobs. He was addressing a high level meeting at Tevta Secretariat appreciating the role of the Apprenticeship Section for achieving a milestone for Tevta Punjab.
He further said that unlike in the past where Apprenticeship Law was used as a tool against the Industry, Tevta through its New Skill Ecosystem has created a direct linkage with the Industry through Sector Skill Councils and Public Private Partnerships to empower the Industry in its decision making process. This New Industry - Tevta nexus will be further strengthened by empowering the private sector led Sector Skill Councils to regulate the Apprenticeship Act.
Chairperson further stressed the need for a major awareness drive to make businesses and organizations in Punjab aware of the benefits of apprenticeships for employers and vowed to constantly expand and convert all their 350 plus Vocational Institutes onto the Apprenticeship Model on the footprint of German and British Apprenticeship Model.
Independent Experts term Apprenticeship Act as a hallmark of this Government’s tenure and an Important step in the right direction for the Skill Sector. Speaking on the occasion, a renowned industrialist Mr Rehan Barera said that Apprenticeship is a Fundamental Step for the Provision of Jobs. This Act will also resolve Industries problem for the requirement of Customized Skilled Manpower. “If we get Customized Skilled Manpower and can govern the process through Sector Skill Council it will resolve our issues and greatly help in Economic Growth of our Country ”, he said.
Pakistani rupee remains stable against US dollar in the open market on 29 March, 2024.
In the open market, the US dollar was being quoted at 278.3 for buying and 281.05 for selling.
Euro moves down to 299.75 for buying and 302.75 for selling while British Pound hovers around 353.75 for buying, and 357.25 for selling.
UAE Dirham AED remains stable at 75.55 whereas the Saudi Riyal saw minor increase, with new rates at 73.70.
Currency | Symbol | Buying | Selling |
US Dollar | USD | 278.3 | 281.05 |
Euro | EUR | 299.75 | 302.75 |
UK Pound Sterling | GBP | 353.75 | 357.25 |
U.A.E Dirham | AED | 75.55 | 76.3 |
Saudi Riyal | SAR | 73.70 | 74.4 |
Australian Dollar | AUD | 182.9 | 184.7 |
Bahrain Dinar | BHD | 739.61 | 747.61 |
Canadian Dollar | CAD | 204.25 | 206.46 |
China Yuan | CNY | 38.74 | 39.14 |
Danish Krone | DKK | 40.30 | 40.7 |
Hong Kong Dollar | HKD | 35.55 | 35.9 |
Indian Rupee | INR | 3.33 | 3.44 |
Japanese Yen | JPY | 1.86 | 1.94 |
Kuwaiti Dinar | KWD | 901.14 | 910.14 |
Malaysian Ringgit | MYR | 59.25 | 59.85 |
New Zealand Dollar | NZD | 168.56 | 170.56 |
Norwegians Krone | NOK | 26.19 | 26.49 |
Omani Riyal | OMR | 724.36 | 732.36 |
Qatari Riyal | QAR | 76.57 | 77.27 |
Singapore Dollar | SGD | 206.25 | 208.25 |
Swedish Korona | SEK | 26.89 | 27.19 |
Swiss Franc | CHF | 313.78 | 316.28 |
Thai Bhat | THB | 7.76 | 7.91 |
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