ECNEC Approves $50 Million IT Park Project for Islamabad

Minister of State for IT & Telecom, Mrs. Anusha Rehman has said that approval for Islamabad IT Park has been obtained from Executive Committee of National Economic Council Pakistan.

This facility would be established by Pakistan Software Export Board (PSEB) in collaboration with Korean Exim Bank.

She further said that the information technology (IT) sector was facing many challenges. The government would help IT, telecom and software companies to improve the volume of export by establishing such facilities.

IT Park in Islamabad is need of the hour:

Korea’s Exim Bank is going to invest $50 million for the IT Park in the capital. The park spreading over an area of 45 acres would help promote the local IT industry.

It would also attract international companies to the local market, and increase IT exports by an estimated $120 million.

Pakistan Software Export Board (PSEB) has already got about 45 acres space for this facility and the main purpose of the IT park would be to drive companies in developing more hardware and software solutions.

Mrs. Anusha said that PSEB was doing valuable work and the new IT park would only further add to their efforts in strengthening Pakistan’s IT industry.

Lahore & Karachi to Get IT Parks Soon:

The Minister also promised that two similar IT parks would be established in Lahore and Karachi also as some recent surveys indicate that absence of IT parks as one of the top three concerns of IT industry in Pakistan.