ISLAMABAD: Federal minister for Science and Technology Senator Shibli Faraz addressed the conference on promotional measures for Establishment of venture capital companies for technological development and Growth as a Chief Guest, here on Thursday.
A one-day conference was arranged under auspices of Ministry of Science and Technology. The conference was hosted by NUST in NSTP (National Science and Technology Park). The purpose of Conference was to develop a policy framework for venture capital companies.
A policy and framework for venture capital companies has been included as part of the Performance Agreement FY 2021-22 and 2022-23. Moreover, this task is also part of the mandate and responsibility of the Ministry of Science and Technology as per the Rules of Business 1973 as, “Initiate promotional measures for Establishment of venture capital companies for Technological Development and Growth”. While addressing the conference, Senator Shibli Faraz said, “Start-up culture in Pakistan is a recent phenomenon and the main hurdle for entrepreneurs is that of financing.
Our government under leadership of Prime Minister aims at providing opportunities to startups and business.” We need to identify those sectors for investment by venture Capital Companies which can lead to Technological Development of Growth. Various Stakeholder of the conference were The Securities and Exchanges Commission of Pakistan, The State Bank, Venture Capital Companies, Start-ups, The Intellectual Property Organization, Ministries of Commerce, Industries, Finance, Federal Board of Revenue, Incubation Centers and Higher Education Commission. Rector National University of Science and Technology (NUST) Lt. General (Rtd) Mr. Javed Mehmood Bukhari, Secretary MoST Mr. Dr. Akhtar Nazir and key note speaker Mr. Faisal Aftab MD Zayn Capital also addressed the conference.