PKR 3 billion Technology Innovation Research Fund to fuel local tech ideas

Federal Budget 2016-17 has received its fair share of attention for allocating the highest budget for education, in the history of Pakistan. Speaking at the launch of Young Development Corps at the University of Agriculture – Faisalabad, Ahsan Iqbal Minister for Planning, Development and Reforms revealed insights about the newly announced budget for fiscal year 2016-17.

The Minister announced the Government to be working on Technology Innovation Research Fund. The fund comprising of Rs. 3 billion will provide financial support through research grants to innovative ideas that can transform the use of technology in the country. He said,

“The nation has pinned its hopes on universities to steer the country out of crises.”

He also shared, in 1998 Pakistan had only a mere number of 350 PhD scholars. The number has soared to 75,000 current PhD scholars in the country. To fuel the growth of higher education in this regard, the government is taking the initiative of Pak-US Knowledge Corridor that will offer 10,000 scholarships to study in 200 universities across US.