Govt to promote innovation in industries to make them competitive

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Staff Reporter
Islamabad

Federal Minister for Science and Technology Chaudhry Fawad Hussain has said that the government would promote innovation in industries for improving their competitiveness in national and international markets.

This was stated by him while exchanging views with a delegation of Islamabad Chamber of Commerce & Industry (ICCI) led by its President Sardar Yasir Ilyas Khan that called on him on Tuesday.

Fatma Azim Senior Vice President, Abdul Rehman Khan Vice President ICCI, Omais Khattak, Umar Hussain and Rana Qaisar Shehzad Executive Members ICCI were in the delegation.

Chaudhry Fawad said that the Pakistan Council for Science & Technology (PCST) has been tasked to carry out the First Industrial National Innovation Survey (FINIS) to identify the factors hampering the innovations in industries and take remedial measures to encourage industries for undertaking innovation activities that would enhance their competitiveness and promote exports.

He said that MoST was working to encourage indigenous production of solar panels to shift gradually to solar energy that was more cost effective.

The President Science and Technology said that the government was considering fixing computer chips on flour bags to monitor the movement of flour in the country and to overcome its shortage created by vested interests.

He assured that his ministry would cooperate in resolving industrial problems and promoting industrial efficiency in local industrial units.

He also briefed that delegation about the various projects of his ministry for technological development of the country including certification incentive program for SMEs.

Speaking at the occasion, President ICCI Sardar Yasir Ilyas Khan briefed the federal minister about the key issues of the local industrial and sought remedial measures to address them.

He said that pharmaceuticals, steel, marble, flour, soap & chemicals, IT and light engineering were the major industries working in the federal capital and they needed the cooperation and support of the government in upgrading technology and machinery for producing innovative and value added products.

He said that the government should abolish taxes and duties in the forthcoming budget on the import of industrial technology & machinery to facilitate upgradation of domestic industry.

He said that most of these industries were relying on imported raw material for manufacturing of finished products, but due to restrictions caused by Covid-19 pandemic and hefty devaluation of rupee, the cost of imported raw material has increased significantly.