ISLAMABAD, Nov 1: Pakistan is taking concrete measures, including diplomatic, to examine the possibility of establishing a multi-billion dollar Pan-Islamic Fund for the promotion of science and technology in the OIC region, officials told Dawn on Thursday.

The Fund would receive at least 0.1 per cent of GDP annually from each member state with a guarantee that at least 80 per cent of the donated money would be used within the country contributing it in the areas of priority identified by the donor country, officials said.

The steps being pursued by Pakistan are in line with the resolution adopted by the Tenth Session of the Islamic Summit Conference held in Malaysia from Oct 16 to 18, sources said.

According to a document prepared by the Comstech secretariat in Pakistan and circulated among the OIC member states, establishment of the fund is the first step towards addressing the global balance of power tilted against the Muslim countries.

One of the reasons why the Muslims are being suppressed everywhere is that they have no skills in research and development, and they can’t produce their own technologies to support their progress and defend their rights, the document states.

The Committee on Scientific and Technological Cooperation (Comstech) is a specialized committee with its secretariat at Islamabad. It was established by the Third Islamic Summit held in Saudi Arabia during 1981.

As a special emissary of President Gen Pervez Musharraf, Dr Atta-ur-Rehman, in his capacity as Coordinator General Comstech, has visited selected countries including Saudi Arabia, Iran, Syria, Egypt, Qatar, UAE, Malaysia, Morocco and Brunei to obtain the consent of their respective governments for the fund, officials told Dawn.

According to the document, the principal amount of the proposed Fund would be held by an established institution like the Islamic Development Bank, Jeddah, and it will be administered by a council of ministers of science and technology of the contributing member states. The president of Islamic Development Bank and Coordinator General Comstech will be co-chairpersons of the council, the document said.