Federal Ministry of Information Technology and Telecommunication (MOITT) Syed Amin Ul Haque lay the cornerstone of Pakistan’s largest Information Technology Park project in Karachi in order to make the city a “gateway for innovative future,” as he put it.
The 11-story building will be completed in 2026 at a cost of Rs42 billion, and it would provide around 20,000 jobs for IT specialists.
At the groundbreaking event, the minister congratulated the citizens of Karachi, Sindh, and the entire nation on the inauguration of the project. He asserted that the Karachi IT Park will serve as a portal to a creative future and bolster the economy.He stated that if resources are available, the MQM’s first goal is to create initiatives of public interest, citing the Karachi IT Park as a prime example. He stated that the Karachi IT Park is the largest IT project of its kind in Pakistan, which will benefit not only Karachi residents but also IT experts and businesses in Sindh and the rest of Pakistan.
Syed Amin Ul Haque noted that the Project titled “Establishment of IT Park, Karachi” was approved by ECNEC at its meeting on 4 June 2021 at a cost of PKR 41.39 billion.
The majority of software technology/IT parks provide enough area for corporate development, he said, adding that governments invest in these technology parks to stimulate regional and national economies.
He stated that technology parks must meet fundamental infrastructure requirements, such as clean facilities and adequate room for workers. However, tech parks are also outfitted with cutting-edge technology and telecommunications infrastructure, which facilitates the establishment and management of businesses. The goal of these parks is to establish an environment where innovative firms can flourish. The primary purpose of technology parks is to encourage the formation and growth of knowledge-based businesses.
The Technology park in Karachi provides approximately 225 startups and small to medium-sized businesses with office space and other ancillary services such as testing laboratories, classrooms, an industry-academia linkage centre, an auditorium, etc.
According to him, smartphone production permits were provided for the first time in Pakistan, and 29 businesses are currently producing smartphones and digital devices in Pakistan. National Incubation Centers have recently been built in Faisalabad and Hyderabad, in addition to Karachi, Lahore, Islamabad, Peshawar, Quetta, and Lahore.
As a consequence of our actions, the value of IT exports has increased by 47 percent to $2.62 billion, and 30 software technology parks (STPs) have been developed across the country through public-private partnerships. In four years, the amount of investment in Pakistani startups has increased by 800% to $818 million. Fresh IT graduates will have access to training facilities that meet worldwide standards. Under discussion is the Center of Excellence proposal for youth training at the University of Karachi.