Federal Ministry of Information Technology and Telecommunication (MOITT) on Monday launched Pakistan's largest information technology park project in Karachi. The project is expected to be completed in June 2026.

Laying the foundation stone at a ceremony held at the Karachi airport, Federal Minister for IT Syed Aminul Haque said that over 20,000 job opportunities for IT professionals will be created after completion of this project.

“It will cost Rs41 billion,” Haque said on the occasion. “Karachi IT Park is the largest IT project of its kind in Pakistan, which will benefit not only the citizens of Karachi, but also IT professionals and companies of Sindh and rest of Pakistan.”

Haque recalled that Karachi’s IT Park was approved by Executive Committee of the National Economic Council (ECNEC) in its meeting held on June 4, 2021 at a cost of Rs41.39 billion or $186.7 million. This includes a loan of $158.4 million from Korean Exim Bank and local share in PSDP of $28.2 million.

Haque said that "the purpose of these parks is to provide a place where innovative businesses could develop and prosper.”

According to him, most software technology/IT parks provided ample space for business development.

“Governments all over the world invest in technology parks to boost their regional and national economies,” he said.

The IT Park of Karachi is an eleven-storey (eight storeys above and three underground) building covering an area of 106,449 square meters.

The technology park will provide office space to approximately 225 startups and small to medium enterprises and other ancillary facilities like testing laboratories, classrooms, industry academia linkage center and auditorium.

It is expected to generate more than 20,000 jobs for IT professionals.