Govt Allocates over Rs. 18 Billion for Two IT Parks – Startup Pakistan – World Pakistan

The government has allocated Rs. 18.718 billion for the development of a Technology Park in Islamabad and an IT Park in Karachi under the Public Sector Development Programme (PSDP) for 2024-25.

The Technology Park in Islamabad is designed to promote innovation, collaboration, and product development. It will focus on turning academic knowledge into commercial products, supporting new businesses, and providing IT-enabled office spaces.

This park aims to create a dynamic environment where entrepreneurs, researchers, and businesses can work together to develop new technologies and bring them to market.

In Karachi, the IT Park aims to create new job opportunities, especially for the youth, and act as a driving force for economic growth.

By providing a hub for IT businesses and startups, the park will help to foster a vibrant tech ecosystem in the city. This initiative is expected to attract investment, stimulate job creation, and enhance the overall economic development of Karachi.

Both projects reflect the government’s commitment to advancing the technology and IT sectors in Pakistan. By investing in these parks, the government aims to create environments that support innovation, entrepreneurship, and job creation.

These efforts are part of a broader strategy to enhance the country’s technological capabilities and position Pakistan as a competitive player in the global tech industry.

The Islamabad Technology Park and Karachi IT Park are significant steps towards building a knowledge-based economy. They are expected to provide a platform for young entrepreneurs to launch their businesses, create new job opportunities, and drive economic growth.

The allocation of Rs. 18.718 billion for these projects underscores the importance of technology and innovation in the country’s future development.