Pakistan to Fast-Track Development of Islamabad IT Park, Aiming to Become a Regional IT Hub
Islamabad, The Gulf Observer: Pakistan’s Minister for Planning, Development, and Special Initiatives, Professor Ahsan Iqbal, reaffirmed the government’s commitment to accelerate the establishment of the Islamabad IT Park, a major project designed to position the Federal Capital as a leading regional center for IT innovation. Speaking at a progress-review meeting on Wednesday, Iqbal emphasized the Prime Minister’s vision for transforming Islamabad into a digital economy powerhouse.
Attendees included Minister of State for Information Technology and Telecommunication Shaza Fatima Khawaja, Korean Ambassador to Pakistan Park Kijun, and senior officials from the Ministries of Planning and IT, underscoring the collaborative effort behind the project.
Covering 66,893 square meters with two basements, a ground floor, and nine additional floors, Islamabad IT Park is set to provide state-of-the-art facilities to IT companies and startups. The project, valued at $88.384 million, is financed through a partnership between Korea’s Economic Development Cooperation Fund (EDCF) via the Korean EXIM Bank, which is contributing $76.310 million in loans, and the Government of Pakistan’s Public Sector Development Program (PSDP), which is funding $12.476 million.
Key features of the Islamabad IT Park include:
- 120 Office Spaces for IT and IT-enabled service companies.
- Incubation Center with 15 offices dedicated to nurturing startups.
- Business Support Center offering legal, marketing, and financial services.
- Industry-Academia Linkage Center to foster collaboration between educational institutions and the IT industry.
- Tier III Data Center with uninterrupted power supply.
- R&D IT Labs, Auditorium, and Virtual Classrooms to support research, development, and training.
Ambassador Park Kijun reiterated Korea’s commitment to supporting Pakistan’s IT sector through partnerships aimed at boosting exports of IT products. “Korea is excited to collaborate with Pakistan on this transformative project, which will drive innovation and support Pakistan’s emergence as a competitive player in the global IT arena,” he stated.
In addition to advancing the IT Park, Minister Iqbal proposed establishing Gandhara IT University in Taxila, with Pakistan offering free land to one of Korea’s leading universities to establish a presence. This initiative aims to revitalize Taxila’s historic legacy by developing it into a modern educational center.
The Islamabad IT Park project is anticipated to play a pivotal role in driving Pakistan’s digital transformation, supporting a sustainable digital economy, and enhancing the country’s competitiveness in the global IT sector.
