Govt Determined to Fast-Track IT Park Islamabad Completion, Says Planning Minister Ahsan Iqbal

6 Nov 2024

Islamabad: In a significant step towards enhancing Pakistan’s IT infrastructure, Planning Minister Prof. Ahsan Iqbal chaired a high-level meeting today to review the progress of the IT Park Islamabad project. The meeting, co-chaired by Minister of IT Ms. Shiza Fatima Khawaja, included the Ambassador of the Republic of Korea, Mr. Park Kijun, along with senior officials from the Ministries of Planning and IT.

Speaking at the meeting, Prof. Ahsan Iqbal emphasized the Prime Minister’s vision for swift advancement of the project to transform Islamabad into a regional hub for IT innovation. He stressed the importance of parallel development strategies to ensure the project’s accelerated progress, setting the foundation for a sustainable digital economy in Pakistan.

IT Park Islamabad is being developed in Islamabad, covering a substantial area of 66,893 square meters with two basements, a ground floor, and nine additional floors. It is being financed through a partnership between the Economic Development Cooperation Fund (EDCF) of the Korean EXIM Bank and the Government of Pakistan’s Public Sector Development Program (PSDP). The project, valued at $88.384 million, includes $76.310 million from the Korean EXIM Bank as a loan, with the remaining $12.476 million funded through the PSDP.

This state-of-the-art facility will provide comprehensive support to IT companies and startups, driving innovation and enabling Pakistan to compete in the global IT sector. Key features of the IT Park Islamabad include:

The Islamabad IT Park would have 120 Office Spaces for IT and IT-enabled service companies an Incubation Center with 15 offices dedicated to supporting startups, Business Support Center providing legal, marketing, and financial services, Industry-Academia Linkage Center fostering collaboration between academia and the IT industry and Tier III Data Center with uninterrupted power supply
In addition, the IT Park would also have R&D IT Labs, Auditorium, and Virtual Classrooms supporting research and training.

Ambassador Park Kijun reiterated Korea’s commitment to collaborating closely with Pakistan on this landmark project. He noted Korea’s focus on establishing partnerships to support Pakistan’s IT sector and exploring avenues for IT product exports.

In line with the vision of promoting education and innovation, Planning Minister Prof. Ahsan Iqbal proposed establishing Gandhara IT University in Taxila. As part of this initiative, Pakistan is prepared to offer free land for the university’s campus, welcoming one of Korea’s top universities to establish a presence in Pakistan. This endeavor seeks to revive the ancient legacy of Gandhara and transform Taxila into a modern center of learning, marking a new era for educational excellence in the region.