Information Technology park to be set up in capital

Islamabad: A sub-committee of National Assembly Standing Committee on Information Technology and Telecommunication was informed on Wednesday that Information Technology Park along with the cooperation of Korea will be established in the federal capital.

The committee met under the governance of its convener Amjid Ali Khan. The authoritative bodies of the ministry during the briefing informed the committee that the proposed Information Technology park will provide a complete ecosystem involving reasonable space to companies together with the power, bandwidth, as well as connections between industry and academia.

Information Technology Park, an initiative from Korea, is a $ 50 million investment in the local Information Technology industry meant to uplift the local industry and to strengthen the decreasing business volume among the two states.

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The park in Islamabad will be followed by two more parks in Lahore and Karachi. He said that the IT park in Karachi will be established in the sites of Quaid-e-Azam International Airport whereas the other park would be established in "Lahore Knowledge Park."

A Pak-China Science, Technology, Commerce and Logistic Park will also be established in Islamabad at a cost of almost 1.5 billion dollars as part of China-Pakistan Economic Corridor.