Prime Minister Shehbaz Sharif Speeds up Islamabad Technology Park Project

On Saturday, Prime Minister Shehbaz Sharif instructed the Information Technology Minister and the project team of Islamabad Technology Park to complete the project in this calendar year.

Originally, the project was scheduled for completion in June 2025. The Islamabad Technology Park will be the largest technology park in the country.

The Prime Minister

On Saturday, the Prime Minister visited the under-construction site of the park. He highlighted that the coalition government of the Pakistan Democratic Movement (PDM) had launched the project in 2022.

He added that its construction had been awarded to a South Korean firm. The total cost of the IT park is around Rs25 billion. The South Korean government has provided a soft loan of about $70 million for it.

Prime Minister Shehbaz said that he had ordered round-the-clock work to be done on the project immediately after he took office.

He stated that during his previous stint as Chief Minister of Punjab, he had used a similar 24-hour work system to be followed on development projects.

The Prime Minister also shared his satisfaction with the progress the project has made so far. He also urged the management to aim to complete it this year by September or October.

The Project

He also highlighted the importance of speeding up the timeline of the project for maximizing its benefits as quickly as possible.

Once the Islamabad Technology Park is complete, it will have about 120 offices of different companies. There will also be an incubation center with 15 startups and offices.

This center will offer comprehensive support services, which include financial, marketing and legal assistance.

It is expected that the park will create about 10,000 jobs for skilled workers part of the information technology (IT) industry.

The Impact

Prime Minister Shehbaz also shed light on the economic impact of the IT park. He said that its completion would drive up the exports of the country annually by a total of $70 million.

Furthermore, the park will also boast a level 3 data center. This will be the first of its kind in the country and is the highest tier.

He pointed out that there will be collaboration between domestic and foreign academia, industry professionals, researchers and planners, thanks to the Islamabad Technology Park.

This would help create a synergistic environment that can promote growth and innovation. The Prime Minister also revealed that he intends to replicate similar projects in other regions of Pakistan.

He added that he would work with provincial governments to accomplish this goal. He also acknowledged the role of the South Korean government in organizing and supporting the project.

There is no doubt that the Islamabad Technology Park would be a significant step forward for the IT sector in Pakistan.

It will boost exports, create new jobs and promote innovation. The Prime Minister’s directive to speed up the project will also accelerate economic growth and technological development in Pakistan.