SBP governor inaugurates first ‘urban forest’ project

Published October 21, 2020
State Bank Governor Dr Reza Baqir. — Photo courtesy The British University In Egypt (bue.edu.eg)/File
State Bank Governor Dr Reza Baqir. — Photo courtesy The British University In Egypt (bue.edu.eg)/File

KARACHI: State Bank Governor Dr Reza Baqir on Tuesday inaugurated the first Polyculture Forest project, envisaging an “urban forest” on 5,000 square met­r­­es of land on the premises of Pakistan Security Print­ing Corporation, Karachi.

Under the project, about 15,000 saplings of 45 indigenous species will be planted using the Miyawaki method, a technique introduced by Japanese botanist Akira Miyawaki which helps build dense native forests.

The method ensures gro­wth of plants 10 times faster and results in 30 times den­ser than usual plantation.

The project is inspired by the government’s vision of encouraging people, comm­u­­nities, organisations, bus­­inesses and civil society to collectively plant trees and play their role in improving climatic conditions.

The forest created throu­­gh this method becomes maintenance-free after the first three years. A mini lake for the project has also been developed to complement the ecosystem of the forest and support aquatic life: plants, fish and other creatures.

The project incorporates a micro-sprinkler irrigation system, which supplies only the required amount of water directly to the roots of trees. When fully mature, PSPC Polyculture Forest would be absorbing 300-350 tons of CO2 per year.

Speaking on the occasion, the SBP governor said that as part of the State Bank of Pakistan and PSPC’s contribution towards corporate social responsibility goals and care for the environ­ment, the PSPC’s Polycul­ture Forest, a green island in the urban concrete jungle of Karachi, was a gift for the people of the megacity.

He appreciated the efforts of the entire PSPC team who worked day and night even during the coronavirus pandemic to make this project a reality.

Published in Dawn, October 21st, 2020

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Security concerns
23 Jul, 2024

Security concerns

All stakeholders want what is best for the country and its people; their differing approaches shouldn’t be viewed with such suspicion all the time.
Frankfurt vandalism
23 Jul, 2024

Frankfurt vandalism

THE state needs to seek serious answers from the German authorities regarding the July 20 mob attack targeting...
Stressed cotton economy
23 Jul, 2024

Stressed cotton economy

DECREASING cotton production should be a worry for the government because of its socioeconomic implications. Early...
Population calamity
Updated 22 Jul, 2024

Population calamity

Pakistan can also control its growth rate by following the examples of its peers and implementing functional family planning programmes and campaigns.
Blow to occupation
22 Jul, 2024

Blow to occupation

THE International Court of Justice has delivered a legal blow to the decades-old Israeli occupation of Palestinian...
Seeking Priya Kumari
22 Jul, 2024

Seeking Priya Kumari

PRIYA Kumari — the minor girl who vanished on Ashura in 2021 while serving water at a sabeel in Sukkur district ...