India witnessed a six-fold jump in foreign direct investment (FDI) equity inflow of $343.64 million in the Research and Development (R&D) during the calendar year 2021 as compared to the same period a year earlier.
FDI is permitted under 100 percent automatic route in the R&D sector, subject to applicable laws, regulations, and security. Robust FDI inflows in R&D space play an important role in the development of a knowledge-based economy, paving the way for higher economic growth.
According to data released by the industry department, Karnataka was the top FDI equity recipient state in R&D during 2021. Karnataka was followed by Telangana and Haryana. Flows into Karnataka were up more than 250 percent in 2021 as compared to 2020.
Singapore was the largest investor in the R&D space during CY 2021 with a share of 40 percent as compared to total inflows. The country was followed by Germany (35 percent) and the United States (11 percent).
“Further, FDI Equity inflow from several countries like Germany, Mauritius, France, Singapore, Oman and US. showed an increase of more than 200 percent as compared to previous C.Y. 2020,” an official statement said.
Company-wise, Daimler Truck Innovation Center was the top FDI inflow recipient in R&D during 2021, with 35 percent share of total FDI Equity in R&D, followed by Aragen Life Sciences Private Limited (34 percent) and Stelis Biopharma Private Limited (21 percent ).
“These trends indicate a robust and growing R&D sector which would benefit the economy by driving innovation, increasing productivity, thereby leading to higher economic growth,” the statement said. — ERMD

Pakistan has been facing a power crisis for over 3 decades, what do you suggest to get the country out of this crisis?
It’s been a long-standing issue and every government resolves to address it but the shortfall continues unabated. Inflation goes up all the time and people do not catch up on the purchasing power be it generators or solar panel systems. The use continues to become expensive. After the taxes, the prices exponentially increased. Look at the petrol prices, the people wonder how they continue using it with such exorbitant petrol prices.
The government can supply power for not more than 12 hours and given the situation industries switch to gas which is also not easily available during this government. The industry used to export gas and is now moving to closure. The impact does not only affect the industry but also thousands of people are losing their jobs. How will they live their lives! This kind of impact is always overlooked by governments. They take short-term decisions, restricted to their stay in power. You cannot find long-term programs and if there were any, the new government stopped them.
What is the alternative available to the industry so that it continues to function with the same cost?
We have been working on diesel generators for the last 20 years and our assessment shows the industrial cost of a generator is not more than what the industry usually pays to power utilities like K-electric and WAPDA; it is almost equal. The industry looks towards green energy and efficient systems.
We were working on the Fiat Powertrain Generator for the last 5 years. We were exploring some systems that benefit the end user. Have a look at its features, if we run it on prime power because of a 12 hours power shortfall, you can save 15 to 20 percent of diesel. The next feature includes the first oil service after 150 hours rather than the normal requirement of 50 hours. For the second oil change, other brands call for 250 hours max but Fiat Powertrain allows running it for 500 hours. Thus the service demand will fall in alternate months and it reduces the expenses of the users.
What about the comparison of investment between your brand and the others?
The increase in dollar prices subsequently increases the prices of every product. It is a global phenomenon but still, our brand is already offering 10 to 15 percent less than other brands.
Diesel is considered to be an expensive solution. Do you offer other systems other than the diesel one?
Yes, we do. We have been working on gas generators too. They are the best savers that’s why everyone wishes to go for gas generators. We are in the process of talking with Siemens for one of its brands. It is almost finalized. Siemens gas generators are better than other brands in terms of capital cost or operational cost. Its efficiency is 46 percent compared with other big brands.
Are you in wind power too?
Yes, we have worked on turbines manufactured by US company Capstone. They start with 200 KW and it’s our entry into green energy. Since we are facing a shortfall of gas and diesel, what we need to do is to change the nozzle and use it. Yes, the initial investment is high, touching over US$1000 on 1 KW. Later on, the operational cost remains low. It’s efficient for the industry in Karachi and Punjab.
It’s been 20 years that Powerzone is in the market, what other brands are you dealing in?
Green energy is the focus around the world today and thus we have introduced a turbine whose very first unit has reached Lahore. Since we are facing issues in service etc, we needed something that we can rely on and this is such a type of turbine. Based on diesel, this machine requires once a year servicing. You just have to change the filter. It is a technology that requires no service. We have a good offer and it is very efficient for mobile companies. They have to ensure relaying signals from their towers. They face issues relating to diesel theft in remote areas. We worked with the Bladon MicroTurbine and are importing it. We mix diesel and kerosine and use them to address the theft issue because it cannot be sold in the market. You can run it on low-speed diesel or kerosine and it will give you a 15 percent saving for sure. The initial cost is higher but it ensures you uninterrupted service. We have exhibited it in Islamabad and we have a testing center in Lahore.
The response in Pakistan is good and inquiries have started pouring in from the industry.
Apart from mobile companies, smaller bank branches can also benefit from this product. It is a 12 KW turbine that can easily run 2 air conditioners and ATMs in remote areas.
It is interesting that besides a wide range of generators, you deal in lifts too!
If you talk about lifts, Chinese brands fall into your mind. But it is the quality that is much talked about. Then you see European lifts which double the cost of Chinese lifts. We have introduced a Turkish brand, Aser. Quite a few lifts have been installed in Lahore. They are good in price, naturally a bit more expensive than Chinese lifts. We are trying to introduce more efficient brands in Pakistan.
In Pakistan, many high-rise buildings have been erected and many of them have started becoming older. We continue receiving queries for the replacement of the lift and parts. In new societies, we see good demand in big cities of the country

Careem, the Super App for the greater Middle East and Pakistan, has launched the Falcon project to provide learning and employment opportunities to young and aspiring engineers across the region.
The program consists of multiple training modules that will last for twelve months and enable fresh graduates to get hands-on experience in solving real-life problems using world-class tech facilities at Careem.
So far, more than twenty Falcons are registered in the program, out of which nine have successfully transitioned to core tech teams spread across the region. This transition enables them to work directly on multiple areas across the super app offerings, such as the mobility of people, things, and money.
The Falcons will also get a chance to work alongside engineering leaders at Careem with a wealth of experience from global tech companies like Microsoft, Google, Facebook, Amazon, and Flipkart.
Senior Director of Engineering, Khurram Naseem, said: “On our mission to simplify and improve the lives of people, we need to ensure that we provide a seamless experience on the app as well, which requires a very strong team of engineers constantly working to maintain the quality of the user experience.:
“The Falcon project enables us to find talented engineers from across the region and provide them with the right resources to become world-class engineers,” he added.
Careem plans to make Pakistan an epicenter of technology by expanding the engineering and IT landscape and hiring fresh graduates from across the country. These Falcons will be working remotely along with the wider engineering teams in Cairo, Jordan, Karachi, and Lahore.
Careem has more than 800,000 Captains registered on its platform so far. As the region’s Super App, Careem offers multiple opportunities as it expands its services from the mobility of people, money, food, daily essential deliveries, peer-to-peer credit transfer, and mobile top-ups. – PR

A Pakistan Engineering Council (PEC) delegation led by Chairman Engr. Najeeb Haroon visited the offices of the Federation Pakistan Chambers of Commerce and Industry (FPPCI) in Lahore.
The President of the federation Irfan Qureshi welcomed the PEC delegation that included members of the Innovation and Entrepreneurship Committee (ICE), led by Dr. Samreen Hussain and Lahore-based GB members.
The Founding Chairperson of ASPIRE Pakistan also attended the moot through Zoom.
The primary purpose of the moot was to break the ice between the two organizations and also aimed at highlighting the importance of collaboration between FPCCI, PEC and v ASPIRE.
ASPIRE Pakistan is engaged in developing innovative startups and promoting entrepreneurship in Pakistan.
Dr. Samreen Hussain, Vice Chancellor of Aror University proposed the following points that were agreed upon in principle in the meeting.
To provide exclusive space for the PEC pavilion in the upcoming event to be jointly organized by FPCCI, and the National Idea Bank by ASPIRE Pakistan on 31st July 2022 to showcase the top 30 to 50 ideas of engineering business ideas and highly innovative startups.
Selection of top five projects by Joint Committee/jury for subsequent support for investment through relevant forums and PEC.
Continued collaboration between PEC, FPCCI and ASPIRE to promote entrepreneurship as a tool to eradicate the issue of Engineers’ unemployment hence encouraging engineers’ role in knowledge-based economic development.
To provide “Entrepreneurship Support Offices” in all regional offices of FPCCI after a formal agreement between PEC and FPCCI.
During the event, ASPIRE Pakistan signed the MoU with the PEC on four points proposed by Dr. Samreen Hussain; FPCCI to follow suit after their legal vetting.
ICE has also proposed FPCCI to identify sick or close to bankrupt industrial units so that they can be assigned to skilled unemployed engineers to make them up and running with due shareholding.
People present in the meeting included President FPCCI Irfan Iqbal Shaikh, Chairman PEC Engr Najeeb Haroon, Chairperson ASPIRE Pakistan Mr. Hassan Syed, Convener PEC ICE Engr. Dr. Samreen Hussain, FPCCI Vice President Ms. Riffat Malik, and many members of ICE and FPCCI office bearers attended the meeting

Barrick Gold Corporation says the company would convert Pakistan’s Reko Diq into a world-class mine and the company would start production of gold and copper by 2027.
The chief executive officer (CEO) of the Canada-based mining firm said this week that agreements underlying the framework agreement were being finalized by teams from Barrick and Pakistan.
The Reko Diq project in Pakistan’s southwestern Balochistan province, which hosts one of the world’s largest undeveloped copper and gold deposits, was suspended in 2011 after Pakistan denied Barrick Gold and Chile’s Antofagasta a license to develop it.
An agreement reached between the Government of Pakistan, the provincial government of Balochistan and Barrick earlier this year provides for the reconstitution and restart of the project, which has been on hold since 2011. It will be operated and owned 50 percent by Barrick, 25 percent by the Balochistan government and 25 percent by the Pakistani state-owned enterprises.
“The definitive agreements underlying the framework agreement are currently being finalized by teams from Barrick and Pakistan,” Barrick CEO Mark Bristow said at a press conference in Islamabad.
“Construction of the first phase will follow that with the first production of copper and gold expected in 2027-28.”
Bristow said Barrick would bring capital and technology to convert Reko Diq into a world-class mine and transform Balochistan.
“The project will bring in $10 billion investment in Pakistan, out of this, $4 billion in the first phase till 2027, then $3 billion during the second phase and another $3 billion in the third phase,” he said.
Subject to the updated feasibility study expected in two years, Bristow said, Reko Diq is envisaged as a conventional open pit and milling operation, producing a high-quality copper-gold concentrate.
“It will be constructed in two phases, starting with a plant that will be able to process approximately 40 million tonnes of ore per annum which could be doubled in five years,” he said.
With its unique combination of large-scale, low strip and a good grade, Reko Diq will be a multi-generational mine with a life of at least 40 years, according to the Barrick CEO.
During the negotiations, he said, the Pakistani government and Barrick agreed that Balochistan and its people should receive their fair share of the benefits as part of the Pakistan ownership program.
“The project will have 100 percent Pakistani workers who will be first trained by Barrick for the mining job,” Bristow said. “During the peak construction, the project is expected to employee 7,500 people and once in production it will create 4,000 long-term jobs.”
Pakistan’s Finance Minister Ismail said the development of Reko Diq represented the largest direct foreign investment in Balochistan and one of the largest in Pakistan.
“Like Barrick, we believe that the future of mining lies in mutually beneficial partnerships between host countries and world-class mining companies,” Ismail was quoted as saying in a Barrick statement.
“The Reko Diq agreement exemplifies this philosophy and also signals to the international community that Pakistan is open for business.”
The finance minister said his government was looking forward to Barrick Gold’s investment in the copper and gold mine. “I believe this investment is going to be transformational for Balochistan and Pakistan,” he said on Twitter.
Bristow said multiple social welfare programs for the people of Balochistan would be initiated in education, healthcare and food security as well as for the provision of potable water in a region where groundwater has a high saline content.
“This includes an upfront social development spend of up to $3 million in year one and up to $7 million in year two during the feasibility study update,” the Barrick CEO said.
“One percent of capital during construction phase [and] 0.4 percent of revenue thereafter on an annual basis would also go to the social welfare of the local public.”
He said the unique feature of the agreement was that the Balochistan government would start receiving royalty of the project before the start of operations.
“The Balochistan government will get up to $5 million in the first year, $7.5 million in the second year and $10 million annually from the third year till commercial production is achieved,” Bristow said.
“The Reko Diq agreement also signals to the international community that Pakistan is open for business,” he added.n