KARACHI – Federal Ministry of Information Technology and Telecommunication (MOITT) Syed Amin Ul Haque laid foundation stone of Pakistan’s largest Information Technology Park project in Karachi to make the city what he says “a gateway for innovative future”.
The 11-storey project is expected to be complete in 2026 with a cost of Rs42 billion and it will create more than 20,000 jobs for IT professionals.
Addressing the groundbreaking ceremony, the minister heartily congratulated the people of Karachi, Sindh and the whole country on the launch of the project. He said the Karachi IT Park will be a gateway for innovative future and strengthen economy.
He said MQM’s first priority whenever resources are available has been to launch projects of public interest, and the Karachi IT Park is a big example in this connection. Karachi IT Park is the largest IT project of its kind in Pakistan, which will benefit not only the citizens of Karachi, but also the IT professionals and companies of Sindh and the rest of Pakistan, he added.
Syed Amin Ul Haque highlighted that the Project titled “Establishment of IT Park, Karachi” was approved by ECNEC in its meeting held on June 4, 2021 at capital cost of PKR. 41.39 billion.
Saying most software technology/IT parks provide ample space for business development, he said that governments all over the world often invest in these technology parks to boost their regional and national economies.
He said technology parks must comply with basic infrastructure requirements such as clean facilities and ample working space. However, tech parks are also equipped with the latest technology and telecommunication facilities that make it easy to establish and manage a business. The purpose of these parks is to provide a place where innovative businesses could develop and prosper. The main objective of technology parks is to support the creation and development of knowledge-based enterprises.
The Technology park, Karachi is providing office space to approx. 225 startups and Small to Medium enterprises and other ancillary facilities like testing laboratories, Class rooms, industry academia linkage center, and auditorium etc.
He said that for the first time in Pakistan, smartphone manufacturing licenses were issued, under which 29 companies are now manufacturing smartphones and digital devices in Pakistan. National Incubation Centers were established in Karachi, Lahore, Islamabad, Peshawar, Quetta and recently in Faisalabad and Hyderabad as well.
As a result of our initiatives, the volume of IT exports has reached $2.62 billion an increase of 47%, while 30 software technology parks (STPs) were established across the country under public-private partnership. With an increase of 800%, the amount of investment for Pakistani startups has reached $818 million in 4 years. Steps have been taken to provide IT training facilities of international standard to the fresh IT graduates. The Center of Excellence project for youth training in University of Karachi is under consideration.
Pakistan Technology Startup Fund established to power 50 startups a year
