By Faiza Tehseen ISLAMABAD, April 14 (INP-WealthPK): Faisalabad Chamber of Commerce and Industry (FCCI) is planning to ink an agreement with Lahore University of Management Sciences (LUMS) to fund post-graduate research projects, publish research articles and institutionalize the internship program. Chairman of FCCI Research & Development Department Engineer Ahmad Hassan said while talking to WealthPK that the FCCI is planning to bring a good number of business and professional skills development institutes under its net. “To meet the challenges of the upcoming industrial revolution, it is important to promote innovation in traditional business and e-business trends,” he said. Keeping in view the said target, the FCCI is going to play a flagship role to support talented youngsters at multiple institutes in Pakistan. Ahmad Hassan said that Faisalabad is a business hub, and especially it is well recognized for its state-of-the-art textile and apparel units. “Being a representative body of trade and business community, the FCCI is striving hard to build a knowledge-based community in collaboration with major professional institutes countrywide. Training of entrepreneurs/SMEs (small and medium enterprises) is also a part of this plan,” he said. The other goal of this funding proposal is to provide the right persons to concerned industrial and trading units. It will help to bridge the gap between professional organizations and academia. LUMS is a worthy name to produce qualified business professionals. As a first step, the FCCI recently held a meeting with Deputy Manager of Grants and Major Gifts Imran Nadeem Ansari. It was decided in the meeting that the FCCI will provide the list of required persons from multiple industries to choose as interns and research graduates. LUMS will refer the worthy graduates to the FCCI and they will join the industry or trade unit of their concern. Ahmad Hassan said the National Textile University (NTU) and the University of Agriculture from Faisalabad are already at the panel of the FCCI. In the coming future, it is expected that many other institutes will be in the FCCI’s funding net. “It will make sure that a good number of graduates will be hired by well-reputed organizations. FCCI is also interested in broadening this canvass in collaboration with other chambers of commerce and industry in Pakistan,” he said. “In 2019, we only had five students to support, but now at least 120 students from different educational institutes are getting benefit from this scheme. This support is not limited to a specific amount or number of students. Already, the FCCI has established an understanding with the executives of multiple industries for such support,” he added. Ahmad Hassan said that funding from the FCCI will help LUMS to arrange extensive industrial training programs and lectures. He said a special online portal will be established to promote e-business activities. Speaking to WealthPK, Imran Nadeem Ansari said academic linkage with industries is very important to promote trade and industrial sector in Pakistan. “That’s why LUMS appreciates the funding proposals for worthy scholars,” he said. He also shared that LUMS provides support to deserving students on merit basis. “A sustainable model of need and financial based aid is already operational. Financial aid program of IBA (Institute of Business Administration) is also the replica of LUMS program. Contribution of industrial and trading units will also be helpful to support professional talent. Very soon, a formal agreement between LUMS and FCCI will be signed. We are also planning to include more institutes in this circle,” he said. This will help bring a revolution in the economic stream of Pakistan. Entrepreneurs, SMEs, start-ups and other young business units will flourish as the gap between academia and industry is bridged.