When I assumed the portfolio of the Ministry of Science and Technology (MoST) – back in April last year – I quickly realised how crucial this sector was for inclusive economic growth. It plays a vital role in achieving the various goals of our government enshrined in the PTI’s manifesto including, but not limited to, making Pakistan business-friendly, fixing the country’s energy problems, creating jobs and strengthening the labour market, in accordance with the prime minister’s vision of creating a tech-driven economy.
In the field of science and technology, the 21st century calls for dynamic institutions; the enterprising human resource and leadership; legislation that does not lag behind fast-paced technological advancement; and a regulatory framework/regime that does not shackle institutions with the trappings of a world before the fourth Industrial Revolution. These areas have been the thrust of my and my team’s efforts.
The ministry has prepared the National Startup Policy 2021 and is going to submit it to the cabinet soon. At the same time, a draft policy on promotional measures for the establishment of venture capital companies is also under the active consultation of stakeholders. These two policies, when dovetailed, will be implemented through a programme called ‘Tech-Tsunami’.
The target of the first phase of this programme is a thousand startups, and these startups are likely to generate tens of thousands of job opportunities: the aim is to foster a culture of...
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