ECNEC’s Ratification Sought for Inaugurating IT Park in Karachi
Islamabad: The Executive Committee of the National Economic Council (ECNEC) has been asked to approve the Central Development Working Party’s (CDWP) evaluation of the proposed Information Technology (IT) Park in Karachi, which is expected to cost PKR 31.2 billion.
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According to reports, the CDWP met and approved three development projects totaling PKR 55.5 billion. Under the direction of Deputy Chairman of Planning and Commission Mohammad Jehanzab Khan, the meeting authorised PKR 3.4 billion for the construction of a cancer hospital in Muzaffarabad, Azad Jammu & Kashmir, and recommended approval by the ECNEC of two further projects (including the IT Park).
Pakistan Software Export Board will build and manage the IT Park in Karachi (PSEB).
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It is planned to be an 11-story building near Karachi’s Jinnah International Airport. They claimed that IT Park was financed 85% by the Korean Economic Development Cooperation Fund (EDCF) with loans totaling USD 158.5 million and 15% by the Public Sector Development Program (PSDP).
About 210 IT businesses with 8,400 people would be accommodated in the project, it was announced during the CDWP conference. It is stated that the project will be finished in six years.
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The Pakistan Atomic Energy Commission will construct and manage the aforementioned cancer hospital (PAEC). The conference also discussed a public health project the government of Sindh requested ECNEC’s approval for, valued at PKR 20.6 billion.
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