$750m plan for IT parks -Pakistan Press Foundation (PPF)

Paksitan Press Foundtion

$750m plan for IT parks

ISLAMABAD: A three-phase plan is being pursued to set up Information Technology Parks at a cost of 750 million dollars across the country; this was stated by Pakistan Software Export Board (PSEB) Managing Director, Yusuf Hussain on Saturday.

In an interview with APP he said “Most of the required funding will be made available by foreign companies, to help implement the plan.”

The PSEB MD said at the time the plan was conceived funding was a major problem. “But as we approached foreign companies for investment they gave us an encouraging response.”

“We are now trying to finalise negotiations with various foreign companies on solutions to implement the plan in a befitting manner,” Yusuf Hussain said.

In the first phase of the plan, the existing IT Park in Islamabad will be transformed into an Internet City costing 10 million dollars to meet the requirements of IT companies currently operating in the federal capital, he said.

Yusuf Hussain said various companies of repute had submitted their letters of interest for setting up Internet City in Islamabad and tenders submitted by them will be opened on August 10.

“The selected company will invest capital and construction work on the Internet City will commence by November 15 this year,” he said.
Source: The News