KARACHI: The Bilquis and Abdul Razak Dawood (BARD) Foundation has signed a Memorandum of Understanding (MoU) with the University of Punjab’s Institute of Chemical Engineering and Technology (ICET) to establish the DESCON Endowment Fund.

The DESCON Endowment Fund will be available to both male and female students, preferably from rural areas, who will be enrolling in the institute from the next academic year (2023-24), depending on their financial backgrounds and academic skills.

The students eligible for the fund will be selected from across the country by a special committee, which will include a BARD Foundation representative.

The ceremony at which the MoU was signed was graced by members of the BARD’s Board of Governors, including Faisal Dawood and Farooq Nazir, Vice Chancellor of Punjab University Dr Niaz Ahmed Akhtar, Dean of ICET Dr Abdullah Durrani and ICET Director Dr Rafiullah Khan.

Talking about the initiative, Faisal Dawood said: “Our youth is ambitious and talented, and at the BARD Foundation we are willing to utilise our resources to ensure they get the chance to not only succeed in life but also positively impact their communities.

We will continue to explore similar industry-academia linkages to empower students with the right tools and resources.”

While lauding the BARD Foundation’s initiative, Dr Akhtar thanked the BARD Foundation and DESCON for setting up the endowment fund, adding that it was a novel way to empower students from underprivileged backgrounds.

Copyright Business Recorder, 2022