 Well, my dear students, the course is Labour Policy Pakistan and the topic is research and development, the Punjab Labour Policy 2018. Before we discuss the research and development program of Punjab government, as mentioned in Labour Policy 2018, the term R&D is widely linked to innovation both in the corporate and government world or the public and private sectors. Dear students, R&D allows government, companies, etc. to stay ahead of its competition, etc. Dear students, without research and development program, a government or a company may not survive on its own and may have to rely on other ways to innovate such as engaging in mergers, acquisition or partnerships or other activities, etc. My dear students, through research and development, companies can design new products and improve their existing offerings. R&D is separate from most operational activities performed by a corporation. The research and development is typically not performed with the expectation of immediate profits. Instead, it is expected to contribute to the long-term profitability of a company. My dear students, companies that set up and employ entire R&D departments commit substantial capital to this effort. They may estimate the risk adjusted return on their R&D expenditures, which inevitably involves risk of capital because there is no immediate payoff and the return on investment is uncertain. My dear students, the Punjab Labor Policy 2018 suggests initiation of research on labor issues, various dimensions of labor force, demand and supply side, determinants, child labor, forced labor, bonded labor, gender aspects, labor inspection, labor laws, policies, wages and various categories of workers like contract workers, peace rate workers, casual labor, temporary labor, workers of informal sector, home-based workers and domestic workers, etc. with the following predominant objective. Dear students, the research will focus on various trends in the labor market and ever-changing management practices and the findings will be packaged for the planners and policy makers. The second objective is the impact of government policies and administrative actions will be documented through surveys and research and the findings will be used to review the policies and mayors. The third objective of R&D as mentioned in the Punjab Labor Policy 2018 is specific studies will be initiated while focusing on demand and supply side determinants of labor force and findings of these studies will be utilized for employment projection and manpower planning. Last but not the least, the research will encompass the emerging need to have a concise child labor policy signifying priorities in a crystal clear manner so as to ensure my dear students that the achievements made are appraised after periodical intervals by the competent authority. So, these are the objectives for which R&D department will work. Thank you very much indeed.