KATHMANDU: An agreement has been reached between the government and Chairperson of the National Innovation Centre, Mahabir Pun today.

Pun had been staging a sit-in putting forth various demands before the government.

As per the agreement, the government would establish a fund to operate activities related to research, development, innovation and invention in an integrated manner and the fund would invest in research, development and innovation related activities.

Similarly, a bill to manage and operate the Fund will be tabled and passed in the coming session of the Federal Parliament and a draft of the bill would be prepared within next 60 days with the consultation of the stakeholders, according to Deputy Prime Minister Purna Bahadur Khadka’s Secretariat.

Likewise, an understanding was reached to deposit one per cent amount of the capital budget of the federal government in the Fund from next fiscal year.

Likewise, others include making necessary policy-level, legal and organisational arrangement to promote research, development, innovation and invention, to facilitate by reforming the laws related with the issues including providing necessary permission, license, registration, operation and for the goods and services produced from invention.

DPM Khadka on the behalf of the government and Chairperson Pun signed the agreement.