The government has decided to establish an Information Technology (IT) Park in Islamabad with the assistance from South Korea. This IT park is an investment of $50 million in the local IT industry.
The purpose of this park is to elevate the local information technology sector and to enhance the business volume between the two countries.
The proposed IT park would provide an entirely new ecosystem, including affordable space to companies along with power bandwidth and linkages between industry and academia.
As we reported earlier, the authorities require a time of four years for the construction of this park and the government has allocated an area of one million square feet for the hub of IT activity that will support small and medium IT companies of Pakistan.
After the establishment of IT park in Islamabad, two more parks would be built in Lahore and Karachi. The IT Park in Karachi would be set up in the land of Quaid-e-Azam International Airport. In Lahore Knowledge Park, the government would establish some other parks.
Moreover, as part of the China-Pakistan Economic Corridor (CPEC), a Pak-China Science Technology Commerce and Logistic Park would also be set up in Islamabad at a cost of $1.5 billion.
It would serve as a platform for technological and commercial linkages between Pakistan and China, besides promoting investment and financing e-commerce, and research and development.
Pakistan would provide 500 hectares of land for the establishment of the park, while China will provide all the other investment.
The convener of the committee recommended connectivity of all the District Headquarter Hospitals through one link. He said that under PSDP, around Rs944.804 million were allocated for the various projects, out of which, the amount released were Rs698.417 million.