Finance Advisor, Minister for Science discuss proposal for promotion of R&D

February 18, 2020: Minister for Science and Technology Fawad Chaudhry called on the Adviser to PM on Finance and Revenue Dr. Abdul Hafeez Shaikh here at the Finance Division.

The Minister for Science and Technology discussed with the Adviser details of a proposal they are preparing for the promotion of Research and Development in the country specifically with reference to bio-technology and chemical production the country.

The proposal envisages a liaison between the business community, different Universities and research institutions. The Minister briefed the Adviser that the proposal envisages an export value of $1.3 billion worth of chemicals that are used for different industrial purposes.

The Ministry of S&T is working on a proposal to establish Special Economic Zones to promote research in Chemicals and bio-technology, initially in some major cities of the country, said Minister for Science and Technology.

The Minister also stated that research and development in the field will not only boost the quality of local production but also has chances to fetch foreign exchange by export. A pilot project shall be started soon, he said

The Adviser appreciated the prospects the project is likely to offer and the role of the Ministry of S&T in bringing in innovative ideas for the promotion of exports and promoting projects that will help in promotion of investment in research with commercial application. He assured the Ministry of S&T of all possible coordination and facilitation.

Press Release