'Interest-free Banking System To Be Introduced In Engineering Sector'

Chairman Pakistan Engineering Council (PEC) Engineer Javed Saleem Qureshi said that an interest-free banking system would be introduced in engineering sector after establishment of Pakistan Engineering Foundation

FAISALABAD, (UrduPoint / Pakistan Point News - 24th Apr, 2019 ) :Chairman Pakistan Engineering Council (PEC) Engineer Javed Saleem Qureshi said that an interest-free banking system would be introduced in engineering sector after establishment of Pakistan Engineering Foundation.

Chairing a seminar at University of Agriculture Faisalabad (UAF) here Wednesday, he said that lack of capital was the major hurdle in new inventions in engineering sector. Therefore, Pakistan Engineering Council has decided to set up Pakistan Engineering Foundation and for this purpose, efforts had been accelerated, he added.

He said the foundation would also help in establishment of business incubation centers from where brilliant youths would get interest-free loans through technology construction bank for introducing new inventions and running their businesses.

He said that technology transfer was one of the biggest businesses in the export world as India earns 20 billion Dollar per annum through technology transfer.

Our brilliant youth should also come forward to capture this market and the PEC would fully support them by establishing technology incubation centres in each city of Pakistan, he added.

Earlier, Vice Chancellor UAF Prof Dr Muhammad Ashraf in his welcome address highlighted the importance of technology transfer and urged the students to concentrate on this field.

Dean Faculty of Agri Engineering and Technology Department Dr Allah Bukhsh and Additional Registrar Pakistan Engineering Council Dr Nasir Mehmood and Engineer Amir Aziz also addressed the function.