Karachi IT Park to create 20,000 jobs, attract millions of foreign exchange

ISLAMABAD (APP): The largest state-of-the-art information technology Park in Karachi would create 20,000 job opportunities for IT professionals and would help attract millions of dollars precious foreign exchange after its completion.
“The IT Park to be constructed near the Karachi Airport at the cost of Rs 42 billion is likely to create more than 20,000 IT professionals job opportunities after the completion,” said an official of the IT ministry
He said the Karachi IT Park would be a gateway for an innovative future and a strengthened economy. “Karachi IT Park is the largest IT project of its kind in Pakistan, which will benefit not only the citizens of Karachi but also the IT professionals and companies of Sindh and the rest of Pakistan,” he added.
He said, that the Establishment of IT Park, Karachi was approved by ECNEC in its meeting held on June 4, 2021, at a capital cost of Rs 41 billion and 39 crores (USD 186.658 million) including Rs 35 billion 13 crores (USD 158.416 million) from Korean Exim Bank as loan and PSDP local share of Rs 6 billion 25 crores (USD 28.242 million).
The main objective of technology parks was to support the creation and development of knowledge-based enterprises.
The range of services offered by the parks was closely linked to the functions that they had to fulfill, he said, adding the benefits of the technology parks were not limited to enterprises and tenants of the parks, but also for companies outside the parks. The benefits of technology parks included a boost in a knowledge-based economy, entrepreneurship, and the latest technologies, he said.
He said the IT Park Karachi was an eleven-story (8 stories above and 3 underground floors) self-contained building with having covered area of 106,449 square meters. The Technology Park, Karachi is providing office space to approx. 225 start-ups and small to medium enterprises and other ancillary facilities like testing laboratories, classrooms, industry-academia linkage centers, auditoriums, etc. It shall generate more than 20,000 jobs for IT professionals.