MoU for country's first I Tech park signed -Pakistan Press Foundation (PPF)

Paksitan Press Foundtion

MoU for country’s first I Tech park signed

KARACHI- Pakistan will successfully place its first satellite in orbit in the first week of December this year and four educational digital channels will also be launched in Pakistan before the end 2002, said Federal Minister for Science and Technology, Prof. Ataur Rehman during the launching ceremony of Karachi Technology Island City on 7th, October 2002.

He further said that information technology infrastructure is now more advanced and has been expanded across the country and now the Internet facility would be available in 1,000 cities at 800 Mb speed by the end of this year.

The Karachi Technology Island City (KTIC) is first proposed IT park of Pakistan to be developed at an off shore island falling under the jurisdiction of City Government, where all activities of the field will be held ranging from research and development to marketing of software and other IT related products besides financial institutions would also be established there.

Memorandum of Understanding (MoU) to develop KTIC was signed on 7th, October 2002, Monday between Army Welfare Trust (AWT), City Government, Access Capital, Pasha Software Houses Association and EDP services, while the Federal Minister signed it as a witness.

Regarding, KTIC he directed the concerned parties to ensure that this idea does not fall victim to files and fruitless meetings like many MoUs, but it must be practically implemented.

Nazim Karachi Naimatullah informed that City Government has provided the 300-acre island and a consortium will be formed comprising of local and international investors, while the first meeting between all five parties who have signed the MoU would be held in this week.

He said that besides benefiting Karachi, KTIC is also a need of hour for the Country.

Chairman AWT, Lt.Gen.Pervaiz Masood highlighted that AWT will contribute towards design, develop and building the IT park.

Marfred Pranada of Access Capital the main financier of the project expressed confidence in human resource available in Pakistan and said that their firm will also help in sale and marketing of products developed in Pakistan in international markets including the US.

Besides other things, he said that image of the country needs rectification abroad to invite international investors and multinational IT companies to establish here, he added.

Zain Syed of Pasha Software Association and Hamza Matin CEO, EDP also spoke, while those present on the occasion included Naib Nazim Karachi Tariq Hasan, DCO Karachi Shafiq Ur Rehman Paracha, EDOs of City Government.
Source: The Nation
Date:10/8/2002