STEDEC Technology Commercialization Corporation of Pakistan (Private) Limited was established in 1987 under the Companies Ordinance 1984. The primary objective is to facilitate commercialization of indigenously researched products, processes and technologies and to assist all Public Sector R&D Institutions in their commercialization efforts. STEDEC generates revenues through its commercial activities and no development or non-development budgetary allocation is made to STEDEC in the Federal Government budget.
STEDEC employment is governed by HR Policy Manual approved by the Board.
Facilitate Sustainable Commercialization of Products, Processes and Technologies developed by R&D Organizations.
Establishing STEDEC as the national organization for commercializing market driven indigenous research, providing a platform for Academia R&D-industry collaboration, providing market insights to R&D organizations, and adapting appropriate foreign technologies for supporting key economic sectors of the country in partnership with indigenous R&D organizations; while ensuring its commercial viability.
3. COMPOSITION OF THE BOARD
|a) Non-Executive Directors|
|Secretary Ministry of Science & Technology||Chairman|
|Chairman PCSIR, Islamabad||Member|
|DG PCSIR, Lahore||Member|
|CEO Punjab Industrial Estate, Lahore||Member|
|CEO SMEDA Lahore||Member|
|b) Independent Directors|
|CEO Sitara Chemical Industries||Member|
|Mr. Mujeeb Rashid||Member|
|c) Executive Directors|
|Managing Director||Member / Company Secretary|
4. DIRECTORS COMMITTEES
a) Nomination Committee:
Assist the Board in fulfilling its obligation relating to identification of the candidates for the Board for consideration of shareholders.
b) Audit committee:
Assist the Board in fulfilling its obligation relating to financial matters and implementation of effective and efficient internal and external financial reporting mechanism and controls.
c) Human resources committee:
Assist the Board in fulfilling its obligation relating to human resource matters including recruitment, training, remuneration, performance evaluation, succession planning and taking measures for effective utilization of employees.
d) Procurement Committee:
Assist the Board in fulfilling its obligation relating to the transparency in the procurement of goods and services.
e) Business Development Committee:
Evaluate and short list products/technologies from R&D organization of Most for commercialization.
M/s Shienwing Hameed Chaudry & Co
6. LEGAL ADVISER
Mr. Rashid Bhatti Barrister-at-law
Habib Bank Limited New Garden Town, Lahore.
Bank Al-Habib Limited Ichra, Lahore