Daily Times

Federal Minister of Information Technology and Telecommunication on Monday laid the foundation stone for the largest IT Park in Karachi to make the city a gateway for innovative future. An inaugural ceremony for the IT Park was held at the site near the Karachi Airport, said a news release. More than 20,000 IT professionals will get job opportunities after the completion of this project worth Rs 42 billion, it added. Addressing the groundbreaking ceremony, Federal Minister for IT and Telecommunication Syed Amin Ul Haque congratulated the people of Karachi, Sindh and the whole country on the launch of the project.

He said the Karachi IT Park would be a gateway for innovative future and strengthen economy. He said MQM’s first priority has been to launch projects of public interest, and the Karachi IT Park was a prime example in this connection. “Karachi IT Park is the largest IT project of its kind in Pakistan, which will benefit not only the citizens of Karachi, but also the IT professionals and companies of Sindh and the rest of Pakistan,” he added.

Syed Amin Ul Haque highlighted that the Project titled “Establishment of IT Park, Karachi” was approved by ECNEC in its meeting held on June 4, 2021 at capital cost of Rs 41 billion & 39 crore (USD 186.658 Million) including Rs 35 billion 13 crore (USD 158.416 million) from Korean Exim Bank as loan and PSDP local share of Rs 6 billion 25 crore (USD 28.242 Million). The project shall be completed in June 2026. The Federal Minister for IT while congratulating the entire team including the MOITT officials and Pakistan Software Export Board for the IT Park project said that their hard work day and night had played a major role. The dream of the Karachi IT Park has come true despite all the difficulties to get the project approved, he said.

Syed Amin Ul Haque said that these parks provide a place where innovative businesses could develop and prosper. Most Software technology/IT parks provide ample space for business development. Governments all over the world often invest in these technology parks to boost their regional and national economies. He said technology parks must comply with basic infrastructure requirements such as clean facilities and ample working space. However, tech parks were also equipped with the latest technology and telecommunication facilities that make it easy to establish and manage a business. The main objective of technology parks was to support the creation and development of knowledge-based enterprises. The range of services offered by the parks was closely linked to the functions that they had to fulfill, he said, adding the benefits of the technology parks were not limited to enterprises and tenants of the parks, but also for companies outside the parks. The benefits of technology parks included boost in knowledge based economy, entrepreneurship and latest technologies, he said. He said the IT Park Karachi was an eleven-storey (8 storeys above and 3 underground floors) self-contained building having covered area of 106,449 square meters.

The Technology Park, Karachi is providing office space to approx. 225 start-ups and small to medium enterprises and other ancillary facilities like testing laboratories, class rooms, industry academia linkage center, and auditorium etc. It shall generate more than 20,000 jobs for IT professionals. Syed Amin Ul Haque said that the Ministry of IT and Telecommunication achieved many milestones in the last four years including a long list of policies.