Encourage entrepreneurship: ICCI, ministry to set up business incubation centre
The facility would focus on promoting entrepreneurship, skill development in youth.
The facility would focus on promoting entrepreneurship, skill development in youth. PHOTO: CREATIVE
Recognising the importance of skilled manpower and entrepreneurship for strengthening economy, the Islamabad Chamber of Commerce and Industry (ICCI) and the Ministry of Science and Technology have agreed to collaborate for the establishment of a “Technical Business Incubation Centre” in the ICCI.
The agreement was made during a visit of by a ministry delegation led by adviser Dr Shahid Hussain to the ICCI.
The facility would focus on promoting entrepreneurship and skills development in university graduates for improving the competitiveness of the local industry, said a press release issued by ICCI on Thursday.
ICCI President Shaban Khalid hoped that the establishment of the business centre will help significantly in promoting entrepreneurship among the youth to contribute to economic development.
He said that Pakistan normally exported low-value industrial products and that the ministry and research and development organisations have a crucial role in improving the competitiveness of the industry for producing value-added industrial products to enhance their exports.
Khalid said that ICCI and the ministry should develop close collaboration for promoting linkages between industry and research organisations to improve industrial efficiency and development.
Dr Hussain said the ministry has set up a “commercialisation cell” to link industry with research organisations and academia in order to carry out demand-driven activities, resolve industrial problems and indigenise technologies and products. He stressed the need of a close working relationship between the ICCI and the ministry for strengthening the industry and manufacturing value-added industrial products.
Pakistan Council of Scientific and Industrial Research (PCSIR) Director General Dr Shahzad Alam said that the PCSIR has developed coal water slurry as a cheap energy solution to be used in coal gasifiers as a substitute for furnace oil.
Published in The Express Tribune, January 24th, 2014.