• Wed. Jul 24th, 2024

Promoting Research & Development

Research and Development (R&D) is a key factor in the fast-paced global economy of today, as it fosters the emergence of novel products, cutting-edge technology, and groundbreaking techniques. In addition to improving uni­versity teaching, research supports government agencies, affiliated institutions and organisations, administrative, legislative, and even judicial levels. R&D is widely ac­knowledged as a key force behind global social and economic advancement. It is not limited to the scien­tific or medical domains alone. The value of R&D is seen in a variety of disciplines, including engineering, education, industry, organisations, and agriculture.

Every industry, regardless of its lifespan, needs to con­stantly update its product lineup and design. This is required due to the constant advancement and change in technology, competition from competitors, and daily shifts in consum­er preferences, all of which would be impossible without an R&D department. The development and use of new technol­ogy will be the primary drivers of economic advancement in any country in the future.

By offering creative and technical answers to urgent prob­lems encountered in daily life, R&D contributes to raising peo­ple’s standards of living. State policymakers find R&D to be a desirable area for policy action since it contributes to the exam­ination of technological advancements and creative ideas that promote economic growth and development.

Pakistan’s R&D efforts are hindered by the absence of infra­structure and a dearth of appropriate, efficient training insti­tutions focused on research. Even though our institutions es­tablished the availability of sufficient human capital over many years through foreign grants, the limited number of research centres is unable to accommodate newcomers because of space and resource limitations. This reluctance prevents firms from adopting new technologies, improving internal processes, and innovating—all essential elements of sustained success. The country’s manufacturing, innovation, and technical advance­ment sectors are all affected by this resistance.

An innovative approach to investing in and promoting re­search and development is impeded by the increasing reliance of established research institutions and associations on tech­nologies and research ideas that have been borrowed. It is also commonly disregarded to involve newly certified academicians and researchers in the creation of an appropriate R&D system. As a result, human capital could not be used for projects or for establishing connections between academic research centres and industry across all sectors. Undoubtedly, Pakistan deserves recognition for the significant surge in research publications; yet, much work remains, particularly in fostering collaborative research. This is the only way to guarantee industry-research cooperation to leverage new and creative ideas.

It is more important than ever to invest and hire qualified workers. Organisations cannot afford to fall behind as technol­ogy develops at an unprecedented rate and global marketplaces change. In strategic planning, the relationship between R&D ex­penditure, innovation, and operational efficiency must be given priority. Organisations might be strongly encouraged to invest in R&D by the government. Giving tax advantages to enterprises who invest in R&D is one method to achieve this. Via the Export Development Fund, the government may also promote financing for research and development initiatives. The government may also foster innovation by reorienting the country’s skill develop­ment initiatives to better suit the private sector’s need for skilled workers and bolstering intellectual property rights. In this re­gard, the country must review its commercial policies.

To ensure long-term economic growth and sustainable de­velopment, investments will strengthen the ability to gener­ate, disseminate, adopt, and adapt knowledge. An increase in productivity through innovation fosters economic expansion, better-paying jobs are created, poverty is reduced over time, and living standards are raised overall. Government depart­ments, corporations, academic institutions, nonprofit corpo­rations, and research institutes all contribute to the creation and dissemination of knowledge. To encourage investments and foster an innovative culture, and produce a competent la­bour force, we must all work together. Our research institutes, universities and industries in Pakistan can only achieve sus­tainable growth, technological advancement, and internation­al recognition if we make these dedicated efforts.

Engr. Yaqoob Ali Baloch
The writer is currently working as a researcher in Mehran UET, Jamshoro. He can be reached at yaqoobalibaloch4@gmail.com


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