government signs loan agreement for Islamabad IT Park

As we earlier reported, the Pakistani government will soon introduce an IT Park in Islamabad with the help of South Korea. The government today signed an agreement with the South Korea’s bank to establish a state of the art facility.

According to the agreement, Korea’s Exim Bank will provide necessary funds for the establishment of the project which will cost around PKR 10 billion.

Previously, the Ministry revealed that the park will be completed in a span of 4 years where one million square feet area has been allocated for the hub of IT activity that will support small and medium IT companies of Pakistan. It aims to create 5000 IT jobs for the graduates in Pakistan.

Last year, Anusha Rahman, Minister of State of Information Technology and Telecommunication, referring to this project said the Pakistanis will soon get a true IT Park. She already showed dismay over the current IT parks and said:

“Pakistan doesn’t have a proper Technology Park that can combine all the research in a cohesive and comprehensive way.”

Minister of Finance, Muhammad Ishaq Dar along with Anusha Rahaman were present at the event. Mr. Ishaq said that the government plans to establish the state of the art IT park not just in Islamabad but also in Lahore and Karachi.

He further added that through Korea’s loan, the government plans to fulfill the dream of creating a Digital Pakistan. Anusha Rahman has always been vocal about this vision.

At World Economic Forum 2017, she said that Pakistan aims to leapfrog its transition to a knowledge‑based economy, creating a globally competitive and prosperous country that provides a high quality of life for all its citizens.


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