ISLAMABAD: Minister for Information Technology (MoIT), Ms.Anusha Rehman here on Tuesday chaired the 33rd Board of Directors (BoD) meeting of ICT R&D Fund Company and said that the company has significant importance in the development of ICT sector.

The minister said unfortunately the Company was working without a permanent CEO and other important positions were also vacant since last few years adding that with the appointment of its CEO, it would certainly give boast to the company's performance.

On recommendation of the finance committee the board accorded approval of budget 2014-15 of the company.

The board directed the new CEO to frame a comprehensive strategic governance road map for revamping and re-structuring of the organization as structural revamping of the company is indispensable to enhance the volume of the delivery in the ICT R&D Fund.

The board also directed that performance appraisal of all the employees working in ICT R&D Fund should be conducted on the basis of tangible and measurable KPIs in order to ensure the operational excellence.

The minister further stated that it's our utmost priority to establish a "Research & Innovations Center" of International standard so that the best quality of research could be produced in Pakistan.

The meeting noted with great concern that Company has been funding only unsolicited projects in the past whereas, the original bedrock of the company was to solicit proposals in view of industry needs.

The CEO apprised the minister regarding MoU which has been signed with
the British Council today.

He said this MoU contains cooperation and collaboration between ICT R&D fund and British Council for promotion of research & innovation and skill development in Pakistan, to transform the economy of the country into a knowledge based economy.

The British Council will facilitate in the research leading to set up incubators for start ups in IT sector together with opening access to British Council pool of researchers.

Federal Secretary for IT, Azmat Ali Ranjha, CEO National ICT R&D Fund
Company Asif Roomi, Chairman PTA Syed Ismail Shah, Member (Telecom) Mudassar
Hussain, MD, PSEB Asim Shehryar and other board members were also present in the meeting.

APP