16 Companies Assured Expression of Interest for Tech-City Incubation Project

The 39th Board of Directors meeting of National ICT R&D Fund Company was organized at Ministry of Information and Technology (MoIT). Minister for Information Technology Ms. Anusha Rahman chaired the meeting.

CEO ICT R&D Fund Co. Mr Asif Roomi briefed the Board about the latest status of the “Tech-City incubation project”. The Board was told that 16 companies have assured their Expression of Interest (EoI) in accordance to the advertisement circulated through National Newspapers. The Board told the CEO to complete the process efficiently by keeping in mind the given timelines sanctioned by the Board.

16 Companies Assured Expression of Interest for Tech-City Incubation Project

Federal Secretary IT Mr. Azmat Ali Ranjha, CEO National ICT R&D Fund Company Mr. Asif Roomi, Member (Telecom) Mr. Mudassar Hussain, MD, PSEB Mr. Asim Shehryar, Member (HR) Mr.Tahir Mushtaq and other Members of the Board, were also there in the meeting.

Endorsement of Project appraisal Committee (PAC), including re-examination of 12 projects which were stated substandard by auditors formerly were also discussed in detail. PAC suggested continuation of 9 projects subject to specific conditions, 2 with some requirements and one project was mentioned to be terminated. The Board accepted PAC recommendations.

Considering the Audit report, CEO ICT R&D fund guaranteed the Board that important methods have been implemented in the company to certify transparency and efficiency while bestowing Research & Development ventures.