Three economic zones worth $300 million will be constructed in different parts of the country
Prime Minister Imran Khan on Thursday inaugurated a special technology zone in Lahore namely Lahore Technopolis as the government seeks to boost the country’s export in the tech sector by creating a synergized ecosystem of academia, government, and the tech industry.
The technology zone has been constructed under Lahore Knowledge Park Company, where huge investment is being made to enhance the export potential in technology.
Addressing the inauguration ceremony Imran Khan said the tech industry can help the country overcome its current account deficit by increasing tech exports. He also hoped that if incentivized and facilitated, the tech industry can also help address the unemployment problem.
“The project would help provide incentives to the tech industry and bring ease to businessmen, in accordance with the government’s vision,” the PM said. “The IT sector would also address the issue of unemployment of the youth, particularly the women, besides boosting the country’s exports,” he added.
The Special Technology Zones across the country will feature:
- Science and Technology Parks
- Manufacturing units
- Research and development centers of global tech companies
- Software houses
- Universities
- Incubators
- Accelerators
- Ecosystem players
Highlighting the surge in profits of tech companies even during Covid-19 outbreak, Imran Khan said it is unfortunate that Pakistan is lagging behind in the sector despite having ideal conditions, including a huge population of youth.
The premier also highlighted how India has capitalized on tech exports, mentioning that the arch-rivals’ tech exports boomed to $150 billion over the last two decades, while Pakistan could only reach $2 billion.”
Imran Khan also called for redirecting the focus of the government as well as the population towards increasing exports and tapping various ways of wealth creation.
On the occasion, Imran Khan also awarded licenses to twelve tech companies to operate in the technology zone. Besides, a Memorandum of Understanding (MoU) was also signed for establishment of another three economic zones worth $300 million in different parts of the country.
This is the second technology zone in the country after Islamabad Technopolis, which Imran Khan had launched earlier this year.
