Government Working to Encourage Innovation in Industries
Islamabad: According to Federal Minister for Science and Technology Chaudhry Fawad Hussain, the government will encourage innovation in industries to increase their competitiveness in domestic and international markets.
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Hussain said that the Pakistan Council for Science & Technology (PCST) had been given the task of conducting the First Industrial National Innovation Survey in order to identify the factors impeding innovation in industries and take corrective measures to encourage industries to engage in innovation activities that would improve their competitiveness and promote exports. Hussain was speaking with a delegation from the Islamabad Chamber of Commerce and Industry (ICCI) during the discussion.
He claimed that the Ministry of Science and Technology was trying to boost solar panel production in an effort to gradually transition to solar energy, which is more affordable.
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Speaking at the event, ICCI President Sardar Yasir Ilyas Khan informed the federal minister of the main problems facing domestic businesses and urged action to resolve them.
The majority of these industries, according to him, depend on imported raw materials for the production of completed goods, but because of Covid-19’s limits and the severe devaluation of the rupee, the price of imported raw materials has grown significantly.
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