Govt to Offer 100% Loans for Tech-Based Business Ideas in Science Fair 2019

Federal Minister for Science and Technology, Fawad Chaudhry, has announced that the government will provide 70-100 percent loans for the execution of technology-based business ideas.

In a statement on Twitter, the minister wrote:

While briefing a parliamentary panel on Wednesday, the minister revealed that CEO of Facebook has been invited to participate in the Science Fair to promote science talent in the country.

“Science Fair will be held on 31st August to showcase the innovations and to finance the technology-based business ideas from students”, said Federal Minister for Science and Technology Fawad Chaudhry. He was briefing the National Assembly Standing Committee on Science and Technology, which met with Sajid Mehdi in the chair.

The minister said that the government would finance business ideas. The committee appreciated the efforts of the ministry for declaring the month of August as Science & Technology month and for conducting a Science Fair to showcase the innovations. The loans would be provided at a mark up of 6 percent, he added.

The minister further informed the committee that a state of the art PCSIR laboratory would be established, which is currently not linked with any industry. PCSIR has invented around 123-technologies but failed to showcase them. There should be a proper mechanism to publicize these technologies and the ministry is starting public awareness programs in this regard.

The committee chairman said that technology is available but unless it is not transferred, it would be considered useless. The Minister further said that PSQCA is the quality standard regulator but at the same time conducting tests.

The committee was briefly apprised about the achievements made by the ministry and scope of activities in which they have taken an initiative to convert at-least 30 schools in each division to Modern Science Stem School to promote modern scientific education amongst the youngsters.

The committee was told that this task is given to the universities working under control of the Ministry to explore the talent in different fields of science. The minister said that the only way to move forward and progress is through science and technology.

He further said that the lunar calendar, being prepared by a scientific committee formed by the government to end the moon-sighting controversy, would be ready by 15th of Ramazan. Chaudhry added that the ministry would prepare a mobile app for moon-sighting to end the moon sighting controversy in the country.

The committee member Abdul Shakoor asked how much the Ruet-e-Hilal Committee cost and the minister replied by saying that around Rs 4 million.

Replying to a question, the minister replied that institutions lack commercialization approach, but now they have to adopt this approach. The minister further proposed that there should be a national standard for food, otherwise investment would stop. Food Authorities have many problems, he added.

The meeting was attended by MNAs, Engr. Usman Khan Tarakai, Abdul Shakoor Shad, Sobia Kamal Khan, Khawaja Saad Rafique, Zaib Jaffar, Dr. Samina Matloob and Naveed Aamir Jeeva besides the officials of the Ministry and attached departments.

  • Where is the Details to Apply and Procedure into #PakistanScienceFair2019 ?

    What about those Pakistan who live in SIndh & FATA how we will reach to your fair if we didn’t have some handsome amount into our Pocket ?

    It must be launch in whole Pakistan

    • Brother Wahab, don’t expect too much from these guys. Appreciate whatever they offer as Pakistan itself is having extremely weak economy. How would they be able to Showcase such costly endeavors in every city of Pakistan? You be the judge!

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