Pakistan, Egypt set up Rs 60m research fund
ISLAMABAD: Pakistan and Egypt on Wednesday decided to set up a joint fund with Rs 60 million for research in science and technology.
A press statement said each country would contribute Rs 30 million to finance research and development projects in several fields, including information technology, science and technology, biotechnology, nuclear technology, agriculture, medicine, space technology, pharmaceuticals and chemicals, mineral resources, ocean resources and engineering sciences.
It was mutually agreed that all activities carried out in Pakistan under the programme would be financed through the Pakistani side of the fund, whereas all activities carried out in Egypt would be financed through the Egyptian government. Stressing the need for developing joint projects in the areas, Federal Minister for Science and Technology Dr Atta-ur-Rehman said the Muslim world had tremendous knowledge about the use of medicinal plants. “It is important to share information and experiences.
Referring to research done at the HEJ Research Institute of Chemistry, he said the institute had discovered about 2,000 new natural products from Pakistani medicinal plants. “These compounds are used in medicines for the cure of cardiovascular diseases, as antibiotics, and for problems related to the central nervous system,” the statement said. —Staff Report