Lahore: In a giant leap towards further strengthening industry-academia linkage, the Lahore Chamber of Commerce and Industry (LCCI) and Lahore School of Economics (LSE) Monday inked a Memorandum of Understanding (MoU) that would pave a way for joint research and seminars on economic issues.
The LCCI President Ijaz A. Mumtaz and Rector of Lahore School of Economics Dr. Shahid Amjad Chaudhry inked the MOU on behalf of their respective organizations. Former Chairman WAPDA Tariq Hameed, former LCCI President Engineer Sohail Lashari, Akber Sheikh and Dr. Azam Ch also spoke on the occasion.
The Memorandum of Understanding aims at capacity building programs through training and empowerment; by a mutual collaboration between the business community and educational institutions.
The Lahore chamber of Commerce & Industry and Lahore School of Economics would collaborate for the development of joint research activities and enhancement of capacity building. LCCI and LSE have also decided to form a Coordination Committee.
LCCI and LSE would collaborate and undertake projects to help the industry compete with the challenges faced in the 21st century. Both organizations would hold workshops, conferences, symposia and seminars for mutual benefits.
Speaking on the occasion, the LCCI President Ijaz A. Mumtaz said that the Memorandum of Understanding between LCCI and LSE is a significant step in bringing the institutions/academia and trade, industry together. He said that the economic challenges being faced by the country need tailor-made and workable solutions and this is only possible through strong academia and industry linkage.
He said that there is no dearth of resources in Pakistan but it is far behind in the economic race because we have failed to properly tap these resources.
He said that in the developed economies there is a strong linkage between the academia and industry and Pakistan today also needs to adopt that pattern to overcome its multiple issues.
Ijaz A. Mumtaz hoped that the Lahore School of Economics will contribute to a great deal in closing the leadership gap through training to potential businessmen in areas relating to economy and international affairs.
LCCI President said that Memorandum of Understanding (MoU) between the two think tanks would help in finding new solutions of the issues being faced by the trade, industry and economy.
He also threw light on ongoing economic challenges and stressed the need for collective approach to bring country out of these problems. He said that both the Lahore Chamber of Commerce and Industry and the LSE have their own strengths and the joining of hands by the two institutions would bring positive change at the economic front.
He said that Pakistan could not make an impact at international level only because of lack of awareness about latest business methodologies. Had awareness been there for the business community, the situation would have been far better today.
The Rector of the Lahore School of Economics Dr. Shahid Amjad Chaudhry said that LSE would provide support to the Lahore Chamber of Commerce and Industry on the economic issues. He said that the Lahore School of Economics would also conduct subject-specific workshops and seminars to equip the businessmen with latest working techniques.
He said that LSE would provide support to the Lahore Chamber of Commerce & Industry for finalization of budget proposals.
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