Pakistan

SBP Governor Inaugurates First ‘Urban Forest’ Project

SBP urban forest

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

“The Polyculture Forest is inspired by the incumbent government’s priority of encouraging people, communities, organizations, businesses and civil society to collectively plant trees and thus play their part in improving climatic conditions,” said a statement issued by the central bank.

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This project carries plans of 15,000 saplings of 45 indigenous species planting by the method of Miyawaki. This method is a technique introduced by Japanese botanist Akira Miyawaki which helps build dense native forests. It helps to ensure the growth of plants 10 times faster that results in 30 times denser than a usual plantation.

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

This method is helpful in a way that the forest becomes maintenance-free after the first three years. There has been developed a mini-lake for the project to complement the ecosystem of the forest and support aquatic life: plants, fish, and other creatures.

Moreover, there is a micro-sprinkler irrigation system that supplies 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.

SBP governor while speaking on the occasion 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 also appreciated the efforts of the entire PSPC team that worked hard day and night for this project even amid the coronavirus crisis.

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