Syed Amin-ul-Haque, the Federal Minister for Information Technology and Telecommunication, stated on Monday that the Karachi IT Park will be finished by June 2026 and provide jobs for more than 20,000 IT specialists.
The minister stated during the Karachi IT Park’s groundbreaking ceremony that the project’s total cost is $186.65 million. Of which Korea Eximbank will contribute $158.4 million and the Public Sector Development Program will cover the remaining $28 million (PSDP).
The minister emphasized the project’s goal by stating that the Park will assist in the development of knowledge-based businesses. He claimed that businesses operating outside of technology parks might also benefit from them in addition to those established inside of them.
The minister added that more than 225 startups, and small and medium-sized businesses (SMEs). As well as national and international businesses would call the IT Park home.
Additionally, the park shall have a testing facility, classrooms, a center for industry-academia liaison, and an auditorium, the minister continued. The Park will be an 11-story structure with a 106,449 square meter footprint.
In addition to Karachities, he continued, IT specialists and businesses in Sindh and beyond Pakistan will also profit from the scheme. The IT minister predicted that the initiative would significantly strengthen Pakistan’s economy.