The Ministry of Information Technology and Telecommunications is planning to launch a multibillion-rupee IT Park project that will house more than 200 tech companies and employ 20,000 young IT professionals.
Federal Information Technology and Telecommunications Minister Syed Amin-ul-Haque will lay the groundwork for the project near Karachi International Airport on Monday (today).
According to officials, Ecnec approved the IT Park project in June 2021 at a cost of Rs41 billion. Exim Bank of Korea will contribute Rs35 billion, with the federal government covering the remainder through its public sector development programme. The project is scheduled to be finished in June 2026.
"The goal of the IT Park is to provide a space for innovative businesses to grow and thrive,” an official said. The IT Park Karachi will be a self-contained 11-story building with a covered area of 106,449 square metres. It would house 225 startups and small-to-medium enterprises, as well as local and international companies, and would include ancillary facilities such as testing laboratories, classrooms, an industry-academia linkage centre, and an auditorium.
