LAHORE: Federal Minister for Science and Technology Zahid Hamid has said that establishment of halal authentication lab is need of the hour in the wake of ever increasing demand of Halal products in the world.
He said this while speaking as a guest of honour in the inaugural ceremony of Halal Authentication Laboratory and Lahore Technology Business Incubation Centre at Pakistan Council of Scientific and Industrial Research (PCSIR) Complex here on Monday.
He said that Halal industry was growing rapidly in the world as its trade volume was $.3 trillion in which 80 percent share was occupied by the non-Muslim states. There is great potential for Muslim countries like Pakistan to take sizeable share of this trade, he said.
The minister said that newly set up incubation centre was perfectly in line with the manifesto of the PML-N government which envisaged the establishment of innovative incubators at each major institution of science and technology.
He said the Ministry of Science and Technology was adopting drastic measures to establish strong linkages among the research institutes and academic institutions with a view to re-orient research and development towards market requirements and enhance its contribution to national socio-economic development.
The establishment of Lahore technology Business Incubation Centre will not only help build a stronger relationship between the business community and the PCSIR but also assist in creating value-added jobs and services, facilitate transfer of technology and foster the entrepreneurial spirit.
He said that setting up of Halal Regulatory Authority was under consideration of the Ministry and the proposed authority would give our Halal products an important marketing feature.
Zahid Hamid said that his ministry had also initiated work on development projects for undertaking research and promoting biotechnology, nanotechnology and fuel cell technology. PC-1 of these projects has been prepared, he added.
A detailed feasibility study for establishing a modern technology park of international standard is also under progress.
Highlighting the government’s achievements during its first six months, he said that 17 percent increase in incorporation of new companies, reactivation of 2597 dormant companies, 27 percent increase in KSE index and 22 percent increase in market capitalization, 17 percent increase in FBR revenues and seven percent growth in remittances were the main achievements of the government.
Federal secretary Science and Technology Kamran Ali Qureshi, Chairman Halal Authority justice (R) Khalilur Rehman, Director General PCSIR Dr.Shehzad Alam and President Lahore Chamber of Commerce and Industry (LCCI) Engr. Sohail Ali were among those who addressed the ceremony.
Shield and souviners were also given to distinguished guests and speakers on the occasion.