Fawad, Hafeez discuss a proposal to promote research in chemicals, biotechnology

By Muhammad YaseenPublished On 05 Jan 2023

ISLAMABAD: Minister for Science and Technology Fawad Chaudhry called on Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh here at the Finance Division.

They discussed the details of a proposal regarding the promotion of research in chemicals and biotechnology.

The proposal envisages a liaison between the business community, different universities, and research institutions.

The minister explained that the proposal envisions the export of $1.3 billion worth of chemicals that are used for different industrial purposes.

The Ministry of Science and Technology is working on a proposal to establish Special Economic Zones to promote research in chemicals and biotechnology, initially in some major cities of the country, Fawad Chaudhry said.

He said research and development 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 added.

The adviser appreciated the prospects the project is likely to offer and the role of the Ministry of Science and Technology in bringing in innovative ideas for the promotion of exports and promoting projects that will help in the promotion of investment in research with commercial applications.

He assured the Ministry of S&T of all possible coordination and facilitation.