Pakistan's Premier Multilingual News Agency

Pakistan’s revolutionary IT park initiative

Islamabad, 25 March 2024, (GNP): The Special Securities Commission (SIFC) has announced the opening of Pakistan’s largest IT park in Islamabad, which is expected to revolutionize the country’s technology industry. Spread across 3.3 acres in the G-10 sector, the park is expected to improve the capital’s IT environment.

This public-private partnership aims to meet the needs of approximately 6,000 freelancers by providing them with tools to help support the country’s economic development through e-services.

Islamabad Technology Park is expected to be one of the best centers to promote collaboration, innovation, and production.

It will work as an integration of education, research institutions, business, and projects within and outside Pakistan, focusing on the knowledge economy.

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Part of the financing is provided by the Economic Development Cooperation Fund (EDCF) of the Export-Import Bank of Pakistan. T

he project is a collaboration between the governments of South Korea and Pakistan (PSDP) and the total cost is PKR 9,246,013,000 (US$ 88,384,000).

The park will include a 12-storey self-constructed complex with buildings offering state-of-the-art surface and underground parking, providing various facilities and services.

IT Park aims to create a great environment for creativity and collaboration by encouraging innovation and growth in business.

Discussions are ongoing with key stakeholders such as Pakistan Software Export Board (PSEB) and Ministry of Information Technology and Telecommunications (MoIT) to ensure its success.

The establishment of the first IT park in Islamabad is expected to create unprecedented opportunities for advancement in business and economic development and make Pakistan a country in the world economy.