PR No. 59 COMPLETION OF IT PARK ISLAMABAD BY FEB 2025 AT THE FOREFRONT OF PAKISTAN-SO

Federal Minister Prof. Ahsan Iqbal, held a meeting with the Ambassador of the Republic of Korea to Pakistan, His Excellency Park Ki Jun, on Wednesday. The meeting centered on strengthening bilateral cooperation, particularly focusing on Exim Bank's role and the IT Parks' ongoing development in Islamabad and Karachi. Minister of State for IT and Telecommunication, Ms. Shaza Fatima Khawaja, was also present during the meeting. During the discussion, Prof. Ahsan Iqbal emphasized the importance of the Technology Park in Islamabad, which is currently providing office space for over 130 startups and small-to-medium enterprises (SMEs). The Minister reiterated to the Korean Ambassador that the Government of Pakistan is committed to ensuring the completion of the Islamabad IT Park by February 2025, with work expected to be in full execution mod, as per the directives of the Prime Minister Shehbaz Sharif. The Minister further shared that the Karachi IT Park is scheduled for inauguration in October 2024. This significant project will play a crucial role in strengthening Pakistan's IT sector and digital economy. In his remarks, Prof. Iqbal conveyed Pakistan's strong commitment to enhancing ties with the Republic of Korea, particularly in the field of information technology and telecommunications. He noted that both countries could greatly benefit from sharing expertise and experiences in these sectors. Ambassador Park Ki Jun, in response, affirmed Korea's desire to further deepen its partnership with Pakistan in the IT and telecommunications sectors. He reiterated Korea's commitment to assisting Pakistan in its IT development initiatives and ensuring the timely completion of the Islamabad IT Park project. The Islamabad IT Park, once fully operational, is expected to deliver significant economic benefits, including an increase in IT exports. The facility will provide a comprehensive IT ecosystem for local businesses, including incubation centers, state-of-the-art ICT services, and a Tier III-level Data Center. The project is projected to generate more than 5,000 direct and indirect jobs during and after its completion. International tech giants like Google, IBM, and Microsoft have already expressed interest in establishing their offices at the Islamabad IT Park, which signals Pakistan's growing prominence as an emerging hub for IT development. ?

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