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Funds Reserved For IT Park in Karachi

According to media sources, the federal government has set aside PKR 31 billion for the development of an Information Technology (IT) Park in Karachi.

An unnamed senior official of the Ministry of Information Technology stated that the IT Park in Karachi is part of the government’s plan to construct IT zones, software parks, and purpose-built software technology parks in the country’s major cities.

These IT zones will assist in fostering R&D innovation and entrepreneurship, as well as enhancing collaboration and digitalization to fulfill the requirements of the modern day.

It was stated that the Karachi IT Park will offer 5,000 IT employment possibilities for young people. The official stated that the IT Park will house 210 IT firms employing 8,400 individuals.

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The project will have multistory buildings with eight ground-level levels and three basement floors. The size of the park will be 106,449 square meters.

In addition, the IT Park will enable local colleges and businesses to establish synergies. In addition, the park will enhance the availability of office space and infrastructure amenities for IT and IT-enabled services (ITeS) to promote the expansion of the IT industry. The duration of the project is anticipated to be two years.

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