In KARACHI, the government has announced plans to build an IT Park with a budget of several billion rupees to provide jobs to 20,000 young people interested in information technology. Karachi IT Park creates 20,000 jobs.
On Monday, federal IT & Telecom Minister Syed Amin-ul-Haque will lay the project’s cornerstone close to Karachi Airport (today).
The Ecnec authorized the IT Park proposal in June 2021, with an estimated cost of Rs41 billion, according to officials. There would be a Rs35bn contribution from the Exim Bank of Korea, and the remaining cost will be covered by the federal government’s public sector development initiative. Project completion is anticipated in June of 2026. IT Park Karachi will be a self-contained 11-story structure with a total floor space of 106,449 square feet. In addition to providing office space for 225 startups and SMEs, local and international businesses would have access to testing labs, classrooms, an industry-academia linking center, and an auditorium.
Karachi IT Park creates 20,000 jobs
Karachi IT Park creates 20,000 jobs. After its completion, ISLAMABAD’s largest 
state-of-the-art information technology. As this park in Karachi will provide 20,000 employment possibilities for IT specialists. And help attract millions of dollars in valuable foreign cash.
However, the IT Park built near the Karachi Airport at a cost of Rs 42 billion is producing more than 20,000 jobs. For IT specialists upon completion, claimed an IT ministry official.
Karachi IT Park creates 20,000 jobs
However, Karachi IT Park will open the door to an inventive future and a stronger economy. Moreover, Karachi IT Park is the largest IT project of its type in Pakistan, which will benefit not only the inhabitants of Karachi but also the IT experts. And businesses of Sindh and the rest of Pakistan.
Karachi IT Park
As During its meeting on June 4, 2021, ECNEC authorized the Establishment of IT Park, Karachi at a capital cost of Rs 41 billion and 39 crores (USD 186.658 million). However, comprising Rs 35 billion and 13 crores (USD 158.416 million). from Korean Exim Bank as a loan and PSDP’s local contribution of Rs 6 billion 25 crores (USD 28.242 million).
Karachi IT Park 20,000 jobs Purpose
However, the primary purpose of technology parks was to encourage the formation and growth of knowledge-based businesses.
As the breadth of services provided by the parks was directly proportional to the duties they require to do. Moreover, he explained, adding that the advantages of the technology parks were not confining to firms and tenants of the parks. But also extended to companies outside the parks. However, he stated that the advantages of technology parks included an increase. In a knowledge-based economy, entrepreneurship, and cutting-edge technologies.
Karachi IT Park 20,000 jobs Specialties
Meanwhile, he stated that IT Park Karachi was an 11-story skyscraper (8 stories above ground and 3 below) with a covered area of 106,449 square meters. However, Technology Park, Karachi provides around 225 startups and small to medium-sized businesses with office space. And other auxiliary amenities including testing laboratories, classrooms, industry-academia linkage centers, auditoriums, etc. Importantly, it will produce around 20,000 employment for IT specialists.
Karachi IT Park to create 20,000 jobs, attract millions of foreign exchange
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).