16 Companies Express Interest in Tech City Incubation Project

 The 39th Board of Directors meeting of National ICT R&D Fund Company was held at MoIT under the chairpersonship of Minister, Information Technology Ms. Anusha Rahman. Federal Secretary IT Mr. Azmat Ali Ranjha, CEO National ICT R&D Fund Company Mr. Asif Roomi, Member (Telecom) Mr. Mudassar Hussain, MD, PSEB Mr. Asim Shehryar, Member (HR) Mr.Tahir Mushtaq and other Members of the Board, were also present in the meeting.

The Board was apprised by the CEO ICT R&D Fund Co. Mr. Asif Roomi regarding latest status of the Tech-City incubation project. The Board was informed that 16 companies have submitted their Expression of Interest (EoI) in the pursuance of the advertisement circulated through National Newspapers. The Board directed the CEO to complete the process expeditiously by keeping in views the given timelines as approved by the Board.

Also read: ICT R&D Fund to Establish Tech City Incubator in Islamabad

Recommendation of Project appraisal Committee (PAC) regarding re-evaluation of 12 projects which were declared unsatisfactory earlier by auditors were also discussed in detail. PAC recommended continuation of 9 projects subject to certain conditions, 2 with some prerequisites and one project was recommended for termination. The Board approved PAC recommendations.

The CEO ICT R&D fund assured the Board that in view of the Audit report, necessary processes have been adopted in the company to ensure transparency & professionalism whilst awarding Research & Development projects.

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