PSF ready to fund research projects of pharma industry for its growth

ISLAMABAD - Pakistan Science Foundation (PSF) is ready to provide direct funding to the research projects of pharmaceutical industry in collaboration with Islamabad Chamber of Commerce and Industry (ICCI). The funding would help it resolve its key issues and achieve better growth, said Prof. Dr. Shahid Mehmood Baig, Chairman PSF while addressing the representatives of local pharmaceutical industries at ICCI.  He said that currently, there was a disconnect between academia and industries and consultative meeting of PSF with the representatives of local pharma industry was part of efforts to strengthen academia-industry linkages.

Dr. Shahid Mehmood Baig said that pharma industries should send their research projects through ICCI to PSF for funding that would be considered on merit.

He said that universities were doing good research work and pharma industries should also send written issues to PSF and PSF in collaboration with universities would try to find their optimum solutions.

He said that PSF was also ready to work with the pharma industry on a public-private partnership model to promote research projects in order to resolve its major issues and facilitate its better growth.

Speaking at the occasion, Muhammad Shakeel Munir, President ICCI appreciated the efforts of PSF for promoting scientific research and providing funding for research projects in various fields of science and technology.

He urged the government to accord top priority to science and technology as its role was crucial in resolving the industrial, economic, social and environmental issues of the country and put it on the path of sustainable growth.

He emphasized that the universities, R&D institutions and industry should join hands to resolve key issues of the economy and steer it out of the current challenges. He said that ICCI was ready to work with PSF to address the key issues of local industries of various sectors that would help them to produce value-added products and improve exports.

Nasir Qureshi, Convener, ICCI Pharmaceutical Committee said that Pakistan pharma industry had grown from 30 companies to 850 companies now including MNCs due to which Pakistan had become self-sufficient in medicines and was exporting to many countries. However, he urged the government to cooperate with the pharma industry to achieve the latest technology and knowledge and get registered with the US Food and Drug Administration that would enable it to further boost export pharmaceutical products around the world.

Jamshaid Akhtar Sheikh Senior Vice President ICCI, Zahid Maqbool, Naeem Siddiqui and representatives of pharma companies also spoke at the occasion and highlighted issues that needed the attention of PSF and the government for redress. They said that the government should withdraw sales tax from the pharma industry to save it from further troubles.

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