IT Parks To Generate Job Opportunities, Attract Foreign Exchange

According to the Ministry of Information Technology, state-of-the-art Information Technology Parks across the country would generate job opportunities for IT professionals. Also, it will attract millions of dollars in precious foreign exchange, boost the IT industry and increase its exports after their completion.

IT Parks To Generate Job Opportunities, Attract Foreign Exchange

He further revealed that

“Work on IT parks in Karachi at the cost of Rs 41 billion and Islamabad IT park at the cost of Rs 13.72 billion is underway. At their completion, they would provide job opportunities for 20000 and 15000 IT professionals respectively. 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,” he added.

Executive Committee of the National Economic Council (ECNEC) approved the Establishment of IT Park, Karachi on June 4, 2021, at a capital cost of USD 186.658 million including USD 158.416 million from Korean Exim Bank as a loan and PSDP local share of USD 28.242 million. The project shall be completed in June 2026.

The official of the Ministry of IT said technology parks must comply with basic infrastructure requirements such as clean facilities and ample working space. However, the IT parks should equip with the latest technology and telecommunication facilities that make it easy to establish and manage a business.

The main objective of technology parks is to support the creation and development of knowledge-based enterprises. The benefits of technology parks included a boost in the knowledge-based economy, entrepreneurship and the latest technologies, he said.

See Also: Saudi Arabia Launches $100 million Tech House in Islamabad