Pakistan has experienced a boom in IT development during the past 5 to 8 years. A number of IT parks were established in Pakistan’s major cities as part of the digital Pakistan goal, keeping in mind the country’s expanding talent pool and the need to boost IT exports. The Ministry of Information Technology and Telecom (MoITT), has unveiled the multibillion-rupee “Karachi IT Park” after a few years.
ECNEC authorized this IT park in June 2021, and today, Federal IT & Telecom Minister Syed Amin-ul-Haque officially inaugurated the groundbreaking ceremony of Karachi’s IT park on 7th November 2022.
MOITT tweeted the following as it announced the groundbreaking ceremony:
Big News for Karachiites
World Class IT Infrastructure, Business and Employment Opportunities coming your way.
Stay tuned!#DigitalKarachi #AminUlHaque pic.twitter.com/azU2Gi0qTT
— Ministry of IT & Telecom (@MoitOfficial) November 5, 2022
According to reports, this sizable park has 200 IT enterprises, providing employment for more than 20,000 IT specialists. Exim Bank of Korea would provide Rs. 35 billion toward the project’s anticipated cost of Rs. 41 billion, with the federal government covering the remaining amount as part of its public sector development initiative.
The 106,449 square metre IT park will be built atop an 11-story structure. An auditorium, testing labs, classrooms, an industry-academia linkage centre, and other amenities will be available to about 225 startups and SMEs, both domestically and abroad.
This project is anticipated to be finished by June 2026 in terms of completion date but IT minister is hopeful to complete this project by December 2025.
Without a doubt, this IT park will give ITpreneurs a place to implement their ground-breaking company ideas.
To read our blog on “Work on Karachi’s IT Park will start soon” click here.