ISLAMABAD, Pakistan: Sub-Committee of the National Assembly Standing Committee on Information Technology and Telecommunication was informed on Wednesday that with the assistance of Korea, an Information Technology (IT) park would be established in the Federal Capital.
The committee met under the chairmanship of its convener Amjad 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.
The IT Park, an 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 IT 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.
It would be set up as part of China-Pakistan Economic Corridor (CPEC). It would serve as a platform for technological and commercial linkages between Pakistan and China besides promoting investment and financing, e-commerce and research and development.
Pakistan would provide 500 hectares of land for establishment of the park and all other investment would be made by China.
The Convener of the committee recommended connectivity of all the District Headquarter Hospitals through one link.
He said that under PSDP around Rs 944.804 million allocated for the various projects, out of which Rs 698.417 million had been released.