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ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal said that the government has launched Rs7 billion innovation fund to support innovation in various sectors.The minister said this while speaking with the delegation of the Centre of Excellence Molecular Biology (CEMB), Punjab University at the Secretariat on Friday.

The minister said, “Innovation is the key to future economic success. Our researchers and scientists are national assets. The government has launched Rs7 billion innovation fund to support innovation in various sectors. The development budget for Higher Education Commission (HEC) has been increased by 68 per cent in new budget to promote higher education sector, which was neglected by the previous PTI government.”

The delegation of CEMB was headed by Dr Kausar Malik, director, who apprised the minister of the research and new BT cotton, seed development by the centre which was virus-resistant and high-yielding variety. They said that the seed could add Rs173billion value to Pakistan’s agriculture.

The project is aimed at improving the human skill base of the populations through training in Good Manufacturing Practice (GMP) compliance pilot scale production, investment in education; increasing higher education coverage; increasing investment in R&D; and building research and education network with other universities.

1.5pc dip: Education gets Rs90.556bn

The CEMB has submitted a proposal for the Establishment of GMP Compliance Pilot Scale Production Facilities to Promote Commercialization of Laboratory Research.

The minister has directed to submit PC-1 of the project while observing that future battles are not in battlefields, they will be in classrooms and laboratories. He said that so whosoever will have better classrooms and productive laboratories will win the future. This is the future frontier of knowledge economy, he added.

Copyright Business Recorder, 2022

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