The Ministry of Labour, Employment and Transport of the Bagmati Province Government is going to provide employment to around 500 people in the Information Technology (IT) sector. The Ministry has prepared to provide employment through the Deposit and Credit Protection Fund established under the Deposit and Credit Protection Fund Act, 2073.

For this purpose, a memorandum of understanding was signed between the Ministry and the Defense Fund in a program on Sunday. In the presence of the Minister of Labour, Employment and Transport Prembhakt Maharjan, Secretary of the Ministry of Labor Birendradev Bharti and Chief Executive Officer of the Protection Fund Ramesh Ghimire signed the MoU.

According to the agreement, the Defense Fund will provide IT-related skill development training to the youth who have passed class 12. In addition, there is a plan to provide them with concessional loans and create employment opportunities in coordination with employers in the IT sector. According to the

plan, the fund will select the necessary banks and financial institutions for job-oriented skill development training and loan protection. The details of those institutions will be updated through the information technology system.

Likewise, the security contributors will establish a separate fund called 'Employment oriented skill development training loan security fund'. 10 percent of the loan amount will be deposited in the said fund. It has been arranged that the quarterly security fee will be collected from this fund and compensation will be paid in case of damage to the loan.