Mobicash, PVTC sign agreement

KARACHI: Mobicash and Punjab Vocational Training Council (PVTC) have signed an agreement, whereby, the Mobile Financial Services (MFS) provider will open up mobile accounts of more than 135,000 PVTC students across Punjab to disburse funds, a statement said on Tuesday.

The signing ceremony was attended by Aamir Ibrahim, CCO and Deputy CEO – Mobilink and Sajid Naseer Khan, Managing Director – PVTC along with their respective teams. 

The project agreed upon by PVTC and Mobicash is divided in to two categories. Category A will see Mobicash open up mobile accounts of 60,000 PVTC students, and disburse a monthly stipend of Rs3,000 per student on to these accounts. 

In category B, Mobicash will ensure 75,000 PVTC students open up a mobile account during the year, so that a stipend of Rs500 per month can be transferred to each student. The students can then withdraw their respective amounts through Mobicash’s 58,000 strong retail network across Pakistan without a cash-out fee.  As per the agreement, Mobicash will also open core banking accounts of all PVTC training institutes for the purpose of receipt and disbursement of Zakat to students, and fee collection.

Aniqa Afzal Sandhu, Head of Financial Services – Mobilink stated, “There is ample opportunity to utilize our Mobicash platform to serve the marginalized community in Pakistan, as Mobile Financial Services serve as an ideal fund disbursement channel. Facilitating Punjab Vocational Training Council in their fund disbursements is part of our effort to accelerate social-uplift ventures, while also ensuring transparent and swift transactions.”