This is the second IT Park launched in the federal capital in the last few months
Fazal Software Technology Park (STP) was inaugurated in Islamabad under the Pakistan Software Export Board (PSEB), a department under the Ministry of IT & Telecommunication.
The IT park is set up as a public-private partnership, and several companies are already running operations from the facility. This is the second IT facility of its nature being launched in the federal capital after Gilgit STP’s opening earlier in October 2020.
Federal Minister for IT & Telecom, Syed Amin Ul Haque said that the government prioritizes the IT industry. He added that Pakistani companies are working on advanced technologies with companies from the more developed nations.
“Pakistanis can rightly be proud of the fact that Pakistani IT companies are providing products and services to the world’s largest companies. State of the artwork on the latest technologies such as AI, Robotics, and Driverless cars is being conducted in Pakistan, and large IT companies, including US companies, have set up R&D centers in Pakistan,” Haque said.
The minister further said that the government is providing the industry with strong support and extremely attractive incentives. Haque highlighted several projects intended to facilitate and assist the IT industry in its growth trajectory to ensure continued momentum in local and export earnings upward.
PM Imran highlights incentives
Prime Minister Imran Khan highlighted the incentives offered to the technology companies in Pakistan. He hoped that the incentives would help in greater employment in the country. Khan also expressed hope of getting foreign investment in Pakistan’s IT industry.
“The IT sector can play a huge role in this,” Khan said. “I hope that this step will become an opportunity for the IT sector to boost our exports. We are also hoping for foreign investment in this regard,” he said.
IT industry in Pakistan has great potential
Pakistani companies have been working with some of the top IT companies in the world ad have been playing their part in the industry’s growth. The total IT exports from the country are still under $2 billion per year. However, with the government’s patronage and more facilitation, the IT companies can deliver better and bring a lot more foreign exchange to the country. Such steps will also help in lowering the unemployment rate, which is a significant cause of economic ills.
IT Parks in Islamabad and Rawalpindi
- Awami Markaz Software Technology Park
- Evacuee Trust Complex Software Technology Park
- KSL Software Technology Park
- Rose Center Software Technology Park
- Meridian Software Technology Park