PEC to provide interest-free loans to young engineers for startups

Chairman of Pakistan Engineering Council (PEC), Engr. Jawed Salim Qureshi has recently announced that the PEC would develop the Engineering Construction Bank to provide interest-free loans to young engineers for launching startups, as reported by the Express Tribune.

Engr. Qureshi was addressing the annual convention of Pakistan Society of Agricultural Engineers which was arranged by the faculty of Agriculture Engineering at the University of Agriculture Faisalabad (UAF).

Keeping in view the market saturation and unemployment challenges, Qureshi stressed the need for developing an entrepreneurship culture among engineers to resolve the challenges faced by Pakistan in the modern era.

Chairman also emphasized that collaborated efforts are required for supporting the “downtrodden segment of society” — the farming community. He stressed upon the adoption of smart and modern “technology for increasing per-acre productivity” of the cultivated land.

The chairman PEC also said the engineering council has the potential to bear the responsibility of constructing dams if given the opportunity. As he said, “Pakistan has the capacity to produce low-priced electricity, but unfortunately we are not tapping the potential.”

Engr. Qureshi said that one of the obstacles in exports is the higher cost of electricity. “In engineering-related departments of the government, there must be engineers on top positions for better results”, he added.

UAF Vice Chancellor Dr. Muhammad Ashraf while addressing the ceremony stated,

“We have to narrow down the gap in industry-academic linkages. Engineers should come up with low-cost agro-technology for small farms so that per-acre production can be increased manifold.”