According to the anticipations, Islamabad’s Information Technology (IT) Park will generate 15,000 new positions for experts, IT professionals, and students.
As part of the initiatives to make a Digital Pakistan, the Minister for IT and Telecommunication (MoITT), Syed Aminul Haque, laid its foundation in Chak Shahzad last year.
According to media sources, more than 5,000 people will be employed directly and indirectly during the construction phase, while 5,000 more people will be employed directly and indirectly after the completion of the park.
An official from the MoITT informed the media that the estimated cost of the project is Rs. 13.27 billion; the MoITT is developing the IT park with financial support from the Exim Bank of Korea.
Is to be mentioned here that IT Minister Haq and Ambassador Suh Sangpyo of the Republic of Korea are attributed with developing the concept for the IT park in Islamabad.
Read more: Pakistan receives $76.28 million loan from South Korea to build IT Park
Initially, a total of 120 startups and small to medium-sized businesses would have access to office space in Islamabad’s IT Park along with other auxiliary facilities including lecture halls, testing facilities, a center for industry-academia links, and an auditorium.
In addition to increasing economic value, the IT park is likely to help the IT sector overcome its infrastructure shortage, facilitate technology commercialization, support technology transfers through academic-industry partnerships, and boost research and development. It is also expected to increase Pakistan’s industrial competitiveness and IT exports while attracting federal direct investment.
Meanwhile, the Capital Development Authority (CDA) has already given its blessing to the building’s design, and MoITT has also received the EPA’s blessing for the project’s construction. The park will consist of 12 floors and 66,893 square meters of floor space.
All the construction work has been finished on the Pakistani side, while contract awarding is in progress on the Korean side, with completion expected in the coming weeks.