Korea will invest $50 million for establishing an IT park in Islamabad which will uplift the entrepreneurial spirit of the city
The first stage of IT Park Islamabad has been approved by The Executive Committee of National Economic Council (ECNEC), Federal Minister Information Technology Anusha Rehman announced.
The Korean Exim Bank has agreed to finance the establishment of the first Technology Park in Pakistan to promote IT and Telecom sector with a cost of $50 million, according to the IT ministry. For this purpose, the proposed land about 45 acres has been leased by Pakistan Software Export Board (PSEB) located in Chak Shehzad Islamabad.
“Vision behind the IT parks is that they would act as complete ecosystem with office space, incubators, accommodation for foreign visitors, gymnasium, lakes, biking trails, and not just raw office space” IT minister Anusha Rehman said.
On the importance of IT Park in current tech era, Anusha Rehman said “an IT Park Islamabad should be a seat of learning and technology where there is exchange of knowledge and information between professionals and students.”
The minister said that work on the IT Parks in Lahore and Karachi would began soon.
PSE Board has proposed a standard working plane to meet prominent Features for state of the art IT Park. At the initial period of construction of buildings, the estimated Infrastructure development and establishment cost would be Rs10.7 billion, in which approximately 1, 000, 00-1, 500,000 square feet of covered area on 15 acres of land and about 120-150 foreigner and local IT companies would be hosted.
Later, broadband connectivity, power backup, transportation, data centers etc would be established. Facility management, business generation and entrepreneurship development skills and international technology linkages will be made with large corporations.
Since 2004, Pakistan Software Export Board (PSEB) has piloted several surveys periodically and the survey outcomes indicate that missing of IT parks in the country is one of the top concern of IT industry.
Now PSEB has been commanded to assist Pakistani IT industry and increase exports of software and services from Pakistan. The major responsibility of PSEB is to establish IT Parks and provide encouraging and supporting infrastructure for the improvement of IT industry.
Fast Facts of IT Park Islamabad
- Phase-1: Construction of buildings having approximately 1, 000, 00-1, 500,000 square feet of covered area on 15 acres of land
- About 120-150 IT companies would be hosted initially
- Infrastructure development and establishment cost Rs 10.7 billion
- Broadband connectivity, power backup, transportation, data centers.
- Facility management, legal and financial services, business generation and entrepreneurship development skills, international technology linkages with large corporations