ISLAMABAD: Federal Minister for Information Technology (IT) and Telecommunication Syed Aminul Haque on Wednesday laid the foundation stone of the capital’s fourth IT park in Chak Shahzad.

The place will offer a working space to IT professionals at Rs80 per square feet.

Addressing the ceremony, Mr Haque said that the IT park is expected to provide over 5,000 direct and indirect employment opportunities mainly to young IT professionals and encourage free lancing in the field. Ambassador of Korea Mr Suh Sangpyo was also present on the occasion.

The IT park is being built with the help of financial assistance from Exim Bank, Korea. Total cost of the project is Rs13.7 billion. The 12-storey building, with a covered area of 66,893 square metres, will provide office space to around 120 startups and other ancillary facilities like testing laboratories, class rooms, industry academia linkage centre auditorium and so on.

Foundation stone of the park building laid

The minister said that this project was linked with fulfilling the ‘Digital Pakistan Vision’ which aims to mitigate the shortage of infrastructure for IT sector but also facilitate technology transfer through industry academia linkages, support technology commercialisation, link tertiary education and production, promote research and development and enhance IT exports and industry competitiveness.

Presently, there are 15 software technology parks (STPs) in Pakistan including three in Islamabad, two in Rawalpindi, eight in Lahore and one each in Karachi and Gilgit.

The minister said a similar IT Park will be established in Karachi soon. “We want to establish software technology parks in small and big cities of the country. Pakistan Software Export Board is working to establish software technology parks in Quetta, Gwadar, Faisalabad, Bannu, Swat, Mardan, Sukkur and Hyderabad, to help expand digitisation and develop opportunities for self employment,” he added.

Speaking on the occasion, Mr Suh Sangpyo said that construction of IT parks are key projects of the Economic Development Cooperation Fund (EDCF). In year 2019, a framework agreement was signed with Pakistan to prove $500 million of EDCF loans that give financial space for the construction of infrastructure in Pakistan.

He said it is very positive that revolutionary steps are being taken in IT and Telecommunication sector of Pakistan and Islamabad IT park will prove to be an important milestone for Pakistani skilled persons.

Published in Dawn, May 27th, 2021