Islamabad Chamber of Commerce & Industry (ICCI) has signed Memorandum of Understandings with National University of Science & Technology (NUST) and COMSATS Institute of Information Technology, Islamabad while another MoU is being signed today with SZABIST for promoting industry-academia linkages.

The purpose of these MoUs is to bridge the gap between academia and industry in Pakistan, develop market based curricula and produce demand driven qualified human resource.

After signing MoUs with these leading universities of the country, Mr.Zahid Maqbool, President, ICCI said that we have to promote close linkages between academia & industry because a well-organized academia-industry linkage can better help promote businesses and improve the national economy.

He said in this era of "knowledge", success of business is becoming more and more dependent on the ability to develop new technologies and new production methods and processes, which help in reducing manufacturing costs, producing better products and processes and making industry more competitive.

He said we have to focus on research especially in science & technology, which provides the ability to identify, create, attract and sustain new industries, promote employment and improve exports.

He said ICCI will encourage trade and industry to take more students from universities for internship so that they could get a chance of practically  applying their theoretical concepts in real business environment.

While showing concerns over government’s decision of making 10 cut in budget allocation for education and reducing Higher Education Commission (HEC) PSDP budget for the year 2011 by Rs.7 billion as compared to last year's approved budget of 22.5 billion, he urged the government to revise this decision in accordance with the emerging needs of universities because cut in budget for education will badly affect the R&D activities in universities.