Amin ul Haque launches Rs 42 bln Karachi IT Park Project.

KARACHI -- Federal Minister of Information Technology and Telecommunication Syed Amin ul Haque on Monday launched Pakistan's largest Information Technology Park project in Karachi to facilitate the fastest growing IT sector in the metropolis.

The minister laid foundation stone in a ceremony held here at the project site near Karachi Airport that would provide state of the art facilities to national and international companies besides job opportunities to more than 20,000 IT professionals.

The project was approved by ECNEC at estimated cost of Rs. 41.39 billion or USD 186.658 million which included a loan amounting to $ 158.416 million by Korean Exim Bank and PSDP local share of Rs. 6.25 billion. The project would be completed in June 2026.

Speaking at ground breaking ceremony Syed Amin-ul-Haque felicitated people of Karachi, Sindh and the entire country on the launch of the project and said that projects of public interest were first priority of the government.

He said that dream of Karachi IT Park had to go through a long process and now it has come true by overcoming all the difficulties and with hard work of all the concerned quarters.

The largest IT project of its kind in Pakistan would benefit not only the citizens of Karachi, but also the IT professionals and companies of the entire country, he said and called for gearing up the development work so that the project could be completed in the shortest possible time.

Core objective of the park was to provide a place equipped with IT and telecommunication basic infrastructure requirements, clean facilities and ample working space to enable innovative businesses develop and prosper, the minister said.

The Karachi IT Park would support the creation and development of knowledge-based enterprises besides offering a range of services, would boost knowledge based economy, entrepreneurship and latest Technologies as well, he said adding that park's eleven storey building would provide office space to nearly 225 startups and Small to Medium enterprises and other ancillary facilities like testing laboratories, class rooms, industry academia linkage centre, and auditorium etc.

The minister further said that the Ministry of IT and Telecommunication has achieved many milestones launched 70 USF projects of OFC and broadband in four provinces at a cost of Rs. 65 billion.

He informed that in province of Sindh, 20 projects of NGBSD and OFC worth Rs. 16.30 billion had been started so far in 20 districts...