The Special Investment Facilitation Council (SIFC) has given the green light to establish the country’s largest IT Park in the G-10 sector of the federal capital, covering an expansive area of 3.3 acres.
This landmark decision marks a significant stride forward for Pakistan’s burgeoning tech landscape, promising unparalleled opportunities for innovation and progress, as reported by APP.
Negotiations are already underway with key stakeholders such as the Pakistan Software Export Board and the Ministry of Information Technology and Telecommunication to ensure the successful execution of the IT Park project.
The envisioned IT Park is poised to become a nucleus of technological advancement, boasting a comprehensive array of facilities aimed at fostering creativity and entrepreneurship.
Among its features will be a state-of-the-art research center, a well-stocked library, software houses, conference rooms, dedicated work spaces for freelancers and start ups and an exhibition area for showcasing cutting-edge IT products.
The IT Park project, operating under a public-private partnership framework, holds immense promise for the country’s burgeoning freelance economy.
Approximately six thousand freelancers are slated to benefit from access to top-notch facilities, empowering them to contribute significantly to Pakistan’s economic landscape through the provision of e-services.
Crucially, the construction of this pioneering IT hub will be financed through collaboration with private IT companies, which will also lease office spaces within the premises.
This synergistic partnership model is anticipated to invigorate Pakistan’s tech ecosystem, driving economic growth and job creation in the digital sphere.
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This is not the largest IT park in Pakistan as wrongly claimed by SIFC. Only land of 3.3 acres has been allocated by CDA and funding for construction is yet to be obtained. On the other hand, the largest IT park of 15 acres is in Chak Shahzad Islamabad which is being funded by Korea Eximbank and its construction will be completed by 2025. It is 12 stories with an area of 700,000 sq ft and space for 120 IT companies and startups. Foundation stone for it had been laid in 2021.
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