ISLAMABAD: Federal Minister for Science and Technology Rana Tanveer Hussain Tuesday said that science and technology would progress in Pakistan with the cooperation of China.
Addressing a press conference here he said a Pak-China Science, Technology, Commerce and Logistic Park is to be established in Islamabad at a cost of 1.5 billion dollars. He said it would be set up as part of China-Pakistan Economic Corridor.
He said it would serve as a platform for technological and commercial linkages between Pakistan and China besides promoting investment and financing, e-commerce and research and development. The Minister said Pakistan would provide 500 hectares of land for establishment of the Park and all other investment would be made by China.
He said three sites have tentatively been identified and a delegation of Xinjiang Production and Construction Corporation is arriving this month for finalization of the site. He said foundation stone of the project is expected to be laid in March next year and it would be completed in ten years in three phases.
The minister said that this project would create job opportunities for 1500 Pakistanis.
The minister said to compete the world we have to move toward latest technology from old one, adding that the government would allocate more budget in next year for the promotion of science and technology.
The minister said, COMSATS Institute of Information Technology (CIIT) under the administrative control of Ministry of Science & Technology has been holding Pak China Business Forums, since 2012.
In the forum COMSAT inviting Technology Business Companies from China to participate with the main objectives of attracting Chinese investment in joint ventures in Pakistan, he added.
There has been an increasing interest in the Forum by Chinese companies; from 57 companies in 2012, the participation rose to 125 companies in the 4th Forum in 2015, he informed.
He said Xinjiang 13th Division of Production and Construction Corps, which is a state owned enterprise in China, signed an MoU with CIIT at the Pak China Business Forum this year in Islamabad.
He said Implementation of the MoU will lead to Chinese Investment in Pakistan, through establishing a Science & Technology Commerce and Logistics Park in Islamabad.
He said following the said MoU, a seven member Chinese delegation, led by Huang Zhigang, Commissar of the 13th Division in Xinjiang Production and Construction Corps, undertook a study visit to Pakistan from 8 12 June 2015.
He said the delegation during stay in Pakistan visited Lahore and Islamabad. They had meetings with Chief Minister of Punjab, Shahbaz Sharif, Minister for Science & Technology and high officials of the Planning Commission, Board of Investment (BOI) and Ministry of Science and Technology.
Comments
Comments are closed.