I want to know if I can pan and zoom an Image that is loaded inside a picture box in vb.net.
If this is possible, plz can you write the code to do this..
You will have to write your own control for that purpose. To get started take a look at the thread How to resize images at runtime using mouse.... There's a "basic" zoomable picturebox user control.
I'm not familiar with VB.NET 2008 (or .NET 3.x) which may support those features you need.