ISLAMABAD: The ministries of science and technology and industries and production signed a memorandum of understanding (MoU) on Thursday to jointly transform research achievements into marketable products.
The ceremony was presided by Federal Minister for Science and Technology Rana Tanveer Hussain and Minister for Industries and Production Ghulam Murtaza Jatoi.
Under the MoU, strong linkages between organisations working under the aegis of the Ministry of Science and Technology (MoST) and the State Engineering Corporation (SEC) will be developed.
The agreement would also help establish links between national research and leading engineering organisations. As for activities pertaining to joint ventures; they would be initiated, executed and monitored through a joint working group having representation of MoST and SEC.
“This MoU would be beneficial in developing the Small and Medium Enterprises (SMEs),” said Jatoi, adding that around 70% SMEs in the world were playing a key role in the development of the country’s economy.
Under the MoU, MoST will provide technical assistance to SEC in modernising their installations and facilities and upgradation and improvement of their capabilities so as to manufacture new products conforming to the market demand.
Rana Tanveer was very optimistic in the expected outcomes of the venture. He said the commercialisation of laboratory ideas and technology would not only widen the scope of practical utilisation of expertise of our PhD scholars but also help the industrial field to better cope with global changing trends.
Published in The Express Tribune, April 8th, 2016.
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