ISLAMABAD: Minister for Planning Ahsan Iqbal directed the concerned authority to expedite IT Park Islamabad project, valued at $88.384 million, including $76.310 million from the Korean EXIM Bank as a loan, with the remaining $12.476 million funded through the PSDP.

In a significant step towards enhancing Pakistan’s IT infrastructure, Planning Minister Iqbal chaired a high-level meeting on Wednesday to review the progress of the IT Park Islamabad project.

The meeting, co-chaired by Minister of IT Shaza Fatima Khawaja, included the Ambassador of the Republic of Korea, Park Kijun, along with senior officials from the ministries of Planning and IT.

Speaking at the meeting, Iqbal emphasised the prime minister’s vision for swift advancement of the project to transform Islamabad into a regional hub for IT innovation. He stressed the importance of parallel development strategies to ensure the project’s accelerated progress, setting the foundation for a sustainable digital economy in Pakistan.

IT Park Islamabad is being developed in the federal capital, covering a substantial area of 66,893 square meters with two basements, a ground floor, and nine additional floors.

It is being financed through a partnership between the Economic Development Cooperation Fund (EDCF) of the Korean EXIM Bank and the Government of Pakistan’s Public Sector Development Programme (PSDP). The project, valued at $88.384 million, includes $76.310 million from the Korean EXIM Bank as a loan, with the remaining $12.476 million funded through the PSDP.

Copyright Business Recorder, 2024