The Bahauddin Zakariya University (BZU) and Multan Chamber of Commerce and Industry (MCCI) have agreed to ink a Memorandum of Understanding (MoU) for forging a working partnership between Business and teaching communities and both the institutions are going to launch a Certified Accounting Training (CAT) project.

Meanwhile, talking to a delegation of BZU officials here on Monday, MCCI President Khawaja Muhammad Usman stressed the need to create a strong interface between higher education institutions and the industry for boosting country’s productivity. MCCI president was of the view that academia should conduct research on sector-specific issues to achieve the ultimate goal of progress and prosperity. He said that it is a vital instrument of growth that has direct and far-reaching implications for the national economy. The concept has successfully evolved in the developed world and some developing countries have also made visible efforts to have this linkage working under institutionalised system. Necessity for this linkage is also being felt in Pakistan for quite some time but not much has been achieved. Maryam Dahar also agreed that there was a need to strengthen linkage of academia with the industry. The MCCI’s women entrepreneur subcommittee convener Kausar Sheikh said that establishment of proper university-industry linkage would help Pakistan in becoming a knowledge -intensive economy instead of labour-intensive. She said that new technology is critical to competitiveness which is a prerequisite to industrial growth of any country. Khurram Javed Secretary General said that the researchers’ collaboration with local industry would improve the product and processes leading to decreased import of raw material and increased export of the finished products.

The products and processes needing improvement should ideally be in priority areas relevant to national needs for socio-economic development of the country. He said that Pakistan’s private sector comprises many technology-based industries. He said that for them research is like blood in the veins without which they could not possibly survive in the current global environment, where industries would endure on the bases of competitive edge. The meeting was also attended by Arshial Hussain.