Lahore – 27th April, 2022 – Bilquis & Abdul Razak Dawood (BARD) Foundation has signed a Memorandum of Understanding (MoU) with the University of the Punjab’s Institute of Chemical Engineering & Technology (ICET) to establish DESCON Endowment Fund.
DESCON Endowment Fund will be available to both male and female students (preferably from rural areas) enrolling in the institute from the next academic year (2023 - 2024), based on their financial backgrounds and academic skills. The students eligible for this fund will be selected from across the country by a special committee, which will also include a BARD Foundation representative.
The MoU signing ceremony was graced by 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 this initiative, Faisal Dawood stated, “Our youth is ambitious and talented, and at BARD Foundation, we are willing to utilize our resources to ensure they get the chance to not only succeed at 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 appreciating BARD Foundation’s academic-enrichment initiative, Dr. Niaz Ahmed Akhtar thanked the BARD Foundation and DESCON for setting up this endowment fund, stating that this is a novel way to empower students from underprivileged backgrounds. The students at University of the Punjab already receive industrial-training at DESCON and this MoU further strengthens the business relationship between the two organizations.
BARD Foundation is a human-development initiative, founded by the renowned industrialist, Abdul Razak Dawood and his philanthropist wife, Ms. Bilquis Dawood. The foundation seeks to utilize its resources to support the talented but less-fortunate individuals, helping them achieve
their true potential. This initiative is also supported by Descon Engineering Limited, a leading Pakistani enterprise which has successfully built several large-scale, infrastructure-projects in many countries.
The BARD Foundation is a venture undertaken by Bilquis and Abdul Razak Dawood to enable less fortunate individuals to realize their potential as champions in their chosen field. The Foundation's primary goal is Changing Fortunes with a special focus on Education and Sports. Another is people development through skills. One such initiative of the Foundation is Descon Technical Institute (DTI), which imparts vocational skills to enable individuals to change their lives for themselves and their families.