He said the space technology has an important role in the development of different sectors including agriculture, fisheries, infrastructure development, education, health and transportation.
The minister said that the present government is a strong proponent of modern science and technology as without this, no nation can achieve success and prosperity.
He said that due to lack of political stability and policy discontinuity, the rate of country’s economic development remained very low during past decade.
Addressing the newly passed out students, the minister said that they should play their role in the economic development of the country by applying their research based knowledge into their professional careers.
He said it is unfortunate that in South Asia, Pakistan ranks in the bottom in terms of human resource development.
Professor Ahsan Iqbal asked the students to have optimistic approach rather than a pessimistic approach about the country.
“We are perfectly a normal nation and do not think negative about the country, he said adding the country is not under-developed but it is an under-managed country.
Earlier, the minister awarded medals and degrees to students of three departments of the institute including Aerospace Engineering, Communication System Engineering and Material Science and Engineering.
He said that the IST has emerged as a renowned institute in a very short span of time.
Engineer Imran Rehman, Vice Chancellor of IST said in his address that the IST has achieved the fifth rank among all engineering institutes and universities in the country.
He said that due to its best performance, the IST is likely to get a university status in November this year.
He addressed the degree holders that they are now ready to enter in to the mainstream development of the country.
He said the country is facing multiple crisis including water and energy crisis, and they can help the country to overcome these crisis by applying their first hand knowledge and skills that they acquired during their stay in theinstitute.