SIFC Gives Go Ahead For Establishing Largest IT Park In Islamabad

ISLAMABAD, (UrduPoint / Pakistan Point News - 25th Mar, 2024) The Standing Investment Facilitation Committee (SIFC) has given the green light to establish the country’s largest IT Park in the G-10 sector of the Federal capital, covering an expansive area of 3.3 acres. This landmark decision marks a significant stride forward for Pakistan's burgeoning tech landscape, promising unparalleled opportunities for innovation and progress.

Negotiations are already underway with key stakeholders such as Pakistan Software Export board and the Ministry of Information Technology and Telecommunication to ensure the successful execution of the IT Park project. These collaborative efforts underscore the government's commitment to nurturing a conducive environment for technological innovation and entrepreneurship, positioning Pakistan as a regional leader in the digital arena, ptv reported on Monday.

The envisioned IT Park is poised to become a nucleus of technological advancement, boasting a comprehensive array of facilities aimed at fostering creativity and entrepreneurship. Among its features will be a state-of-the-art research center, a well-stocked library, software houses, conference rooms, dedicated work spaces for freelancers and start ups and an exhibition area for showcasing cutting-edge IT products.

The IT Park project, operating under a public-private partnership framework, holds immense promise for the country's burgeoning freelance economy. Approximately six thousand freelancers are slated to benefit from access to top-notch facilities, empowering them to contribute significantly to Pakistan's economic landscape through the provision of e-services.

Crucially, the construction of this pioneering IT hub will be financed through collaboration with private IT companies, which will also lease office spaces within the premises. This synergistic partnership model is anticipated to invigorate Pakistan's tech ecosystem, driving economic growth and job creation in the digital sphere.

With the impending realization of the IT Park in Islamabad's G-10 sector, Pakistan stands on the cusp of a transformative era in its tech evolution, poised to harness the boundless potential of the digital age for the betterment of its people and economy.