Govt for fast-tracking $88m IT park

The government, led by Minister for Planning, Development, and Special Initiatives Ahsan Iqbal, is accelerating the development of Islamabad's Information Technology Park to establish it as a regional IT hub. In a progress meeting with officials, including Korea's Ambassador to Pakistan, Park Kijun, Iqbal emphasised advancing this project in line with the prime minister's vision.

Spanning 66,893 square meters, the IT Park will feature two basements, a ground floor, and nine floors, supporting 120 offices for IT and IT-enabled service companies, a startup incubation centre, and a business support centre. The $88 million project is funded through a collaboration between Pakistan's Public Sector Development Programme (PSDP) and a $76 million loan from the Korean EXIM Bank.

Additional facilities include a Tier III data centre, R&D labs, an industry-academia linkage centre, and virtual classrooms.