IT park to be set up in capital with the assistance of Korea

A sub-committee of the National Assembly Standing Committee on Information Technology and Telecommunication was informed on Wednesday that Information Technology Park, with the assistance of Korea, would be established in the federal capital. The committee met under the chairmanship of its convener Amjid Ali Khan. Officials of the ministry during the briefing informed the committee that the proposed IT park would provide a whole ecosystem including affordable space to companies along with power, bandwidth, and linkages between industry and academia. IT Park, a initiative from Korea, is a $ 50 million investment in the local IT industry meant to uplift the local industry as well as strengthen the decreasing business volume between the two countries.

The park in Islamabad would be followed by two more parks in Lahore and Karachi.

He said the IT park in Karachi will be established in the premises of Quaid-e-Azam International Airport, while other park will be set up in "Lahore Knowledge Park." A Pak-China Science, Technology, Commerce and Logistic Park would also be established in Islamabad at a cost of 1.5 billion dollars as part of China-Pakistan Economic Corridor.