Islamabad 29 August 2024 (TDI): The establishment of an IT Park in Islamabad is gaining momentum with the support of the Special Investment Facilitation Council (SIFC). The government is actively working to make the IT Park operational, which is expected to help achieve the target of $2.5 billion in IT exports set by the government.
The IT Park project, being implemented with the cooperation of SIFC, aims to increase IT exports and contribute to the country’s economic growth. The government expects an increase of $1.3 billion in IT exports, $1 billion through digitization, and $200 million from the telecom sector in the near future.
Under this project, the government has invested $77 million in the IT sector during the current financial year. Prime Minister Shehbaz Sharif has expressed satisfaction with the progress on the IT Park project, saying that it will significantly increase the country’s IT exports and efforts will be made to further reduce the construction period after consultation with experts.
The IT Park project, being implemented with the support of SIFC, is moving forward rapidly, and the Korean company has reduced the completion period from June 2025 to February 2025. After the success of the Islamabad IT Park, a similar park will be established in Karachi.
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The IT sector has shown excellent performance, with a 30% increase in exports and the inclusion of 300,000 new IT trainees. Promoting IT exports is crucial for securing and strengthening Pakistan’s economy.
