Government to start construction in Islamabad IT Park next month

According to reports on February 18, the federal government of Pakistan has announced plans to initiate construction on the Islamabad Information Technology (IIT) Park starting in March.

This joint venture between Pakistan and South Korea, with a budget of PKR 1.37 billion, aims to bolster the country’s technological infrastructure.

The groundbreaking for the project took place in May last year after obtaining necessary No Objection Certificates (NOCs) from relevant departments. The project’s tendering process is currently in its final stages, having received NOC from the Environment Protection Agency (EPA) and building plan approval from the Capital Development Authority (CDA).

The IIT Park’s architectural plan entails a self-contained twelve-story structure, with ten stories above ground and two subterranean levels, covering a total area of 66,893 square meters.

This state-of-the-art facility will provide essential infrastructure and amenities for ICT enterprises, supported by financial assistance from the Exim Bank of South Korea, which will extend a loan of USD 76.3 million.

Pakistan will contribute USD 12.5 million towards the project.

Furthermore, the Ministry of Information Technology anticipates that the Islamabad IT Park will help address the talent deficit within Pakistan’s IT industry. Additionally, it is projected to create around 5,000 jobs during the construction phase.

Also Read FBR Urged To Fix Flaws In Its Automated Income Tax-Issuance System.

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