Fazal Software Technology Park was inaugurated by Secretary IT Shoaib Ahmed Siddiqui on Thursday, as reported by the Pakistan Software Export Board (PSEB). This Software Technology Park would be operated under the supervision of the Ministry of IT & Telecommunication.

With 10 IT companies already occupying 40,000 square feet of space at the Fazal Software Technology Park, this new IT facility is a great example of a successful collaboration between the public and private sector.

While Secretary IT Shoaib Ahmed Siddiqui was the Chief Guest, the inauguration ceremony was also attended by the President of ICCI, and other officials from the IT ministry and PSEB.

This is the second Software Technology Park inaugurated in Pakistan within a span of less than 3 months. The Gilgit Software Technology Park, set up in collaboration with Special Communication Organisation (SCO), was inaugurated in October last year.

Federal Minister for IT and Telecommunication Syed Amin Ul Haque also commented on this occasion, saying that Pakistan’s IT Industry is a top priority for the present government, which has been working diligently to improve the state of Pakistan’s economy by creating more jobs and improving the overall quality of life.

He also adds that the industry will be provided strong support by the government in the form of extremely attractive incentives. The Federal Minister explains that several projects have been launched to facilitate and assist IT Industry in its growth trajectory, and to ensure continued upward momentum in local and export earnings.

The Ministry of IT has also rolled out the following incentives for Special Technology Zones:

• A 10-year exemption from income tax, property tax, other taxes and custom duties.
• A 10-year exemption on dividend income and long-term capital gains from Investment
• Exemption from GST on good and services for consumption within zones.

“Pakistanis can rightly be proud of the fact that Pakistani IT companies are providing products and services to world’s largest companies. State of the art work on latest technologies such as AI, Robotics and Driverless cars is being conducted in Pakistan and large IT companies, including US companies have set up R&D centers in Pakistan," explained Syed Amin ul Haque.

Secretary IT Shoaib Ahmed Siddiqui also stressed upon the need for close liaison between IT Industry and public sector entities for ensuring holistic growth of Pakistan’s IT sector in his special address during the ceremony.