Foundation stone of country’s largest Information Technology (IT) Park laid -
Pakistan Press Foundation

Foundation stone of country’s largest Information Technology (IT) Park laid

Pakistan Press Foundation

KARACHI: Land for Pakistan’s largest Information Technology Park project in Karachi to make the city a gateway for innovative future has been provided by Pakistan Civil Aviation Authority (PCAA).

The foundation stone of the technology park was laid by Federal Minister for IT Syed Amin-Ul-Haque in a ceremony held at the site near Karachi Airport on Monday.

More than 20,000 IT professionals will get job opportunities after the completion of this project costing an amount of PKR 42 billion.

Speaking at the event, Chief Guest Syed Amin-Ul-Haque said that Karachi IT Park is the largest IT project of its kind in Pakistan, which will benefit not only the citizens of Karachi, but also the IT professionals and companies of Sindh and the rest of Pakistan.

Haque highlighted that the project titled “Establishment of IT Park, Karachi” was approved by ECNEC in its meeting held on June 4, 2021 at capital cost of PKR. 41 billion & 39 Crore (USD 186.658 million) including PK 35 billion 13 Crore (USD 158.416 million) from Korean Exim Bank (loan) and PSDP local share of PKR 6 billion 25 Crore (USD 28.242 million). The project shall be completed in June 2026.

The Federal IT Minister said that the purpose of these parks is to provide a place where innovative businesses could develop and prosper. Most software technology/IT parks provide ample space for business development. Governments all over the world often invest in these technology parks to boost their regional and national economies.

He said: “Technology parks must comply with basic infrastructure requirements such as clean facilities and ample working space. However, tech parks are also equipped with the latest technology and telecommunication facilities that make it easy to establish and manage a business.”

Needless to mention, IT Park Karachi is an eleven storeys (8 Storeys above and 3 underground) self-contained building having covered areas of 106,449 square meters. The park is providing office space to approx. 225 startups and small to medium enterprises and other ancillary facilities like testing laboratories, class rooms, industry academia linkage centre, and auditorium, etc. It shall generate more than 20,000 jobs for IT professionals.

Meanwhile, PCAA said that the land for the IT Park has been leased by the Pakistan Civil Aviation Authority initially for thirty years.

The lease can be extended for another twenty years.

Minister IT Sindh Tanzeela Umm-e-Habiba, Chief Secretary Sindh Dr. Muhammad Sohail Rajput and MQM Pakistan Convener Khalid Maqbool Siddiqui also attended the ceremony.

Source: Business Recorder