National Innovation Center Chairman Mahabir Pun and the government signed a seven-point agreement on Monday. Chairman Pun and Minister for Defense and Minister of Law, Justice and Parliamentary Affairs Purna Bahadur Khadka on behalf of the government signed the agreement this afternoon. Following the agreement, the sit-in among protest programs led by Pun has come to an end.

According to the agreement, the government will establish a fund and invest in carrying out research and development and innovation and invention related activities.

Similarly, the government will table a bill in the upcoming session of the Parliament and endorse it to manage and operate the fund and to prepare the draft of the bill within 60 days in consultation with stakeholders. Likewise, it has been mentioned in the agreement that one percent of the capital budget will be deposited in the fund from the next financial year and formulate necessary policies and laws to promote research and development and innovation and invention related activities.