Islamabad’s new technology park is anticipated to have 120 startups and is expected to create 15,000 new positions for experts, IT professionals, and students.
As part of the initiatives to create a Digital Pakistan, Syed Aminul Haque, the Minister for IT and Telecommunication (MoITT), lay its foundation in Chak Shehzad last year. More than 5,000 people will be employed directly and indirectly during the construction phase, and 5,000 more people will be employed directly and indirectly once the park is finished.
An official from the MoITT stated that the project’s estimated cost is Rs. 13.27 billion. The MoITT is establishing the IT park with financial support from the Exim Bank of Korea.
Over 120 startups and small and medium-sized businesses (SMEs) will be able to rent office space at the park, along with supporting amenities including testing labs, classrooms, an industry-academia linkage center, an auditorium, etc.
Around 120 startups and small to medium-sized businesses would initially have access to office space in Islamabad’s IT Park as well as other auxiliary facilities. These include testing facilities, lecture halls, a center for industry-academia links, and an auditorium.
In addition to adding economic value, the IT park is expected to help the IT sector overcome its infrastructure shortage, support technology transfer through academic-industry partnerships, facilitate technology commercialization, and enhance research and development. It is anticipated to boost Pakistan’s industrial competitiveness and IT exports while attracting federal direct investment.
The Capital Development Authority (CDA) has already given its blessing to the building’s design, and MoITT has also gotten the EPA’s blessing for the project’s construction. The park will have 12 floors and 66,893 square meters of floor space.
On the Pakistani side, all construction work has been finished, while on the Korean side, contract awarding is now taking place with completion anticipated in the upcoming weeks.
It will increase industry competitiveness and IT exports while also attracting federal direct investment. More than 5,000 people will be employed directly and indirectly during the building period. Once finished, it will produce 5,000 more direct and indirect jobs.