Govt Releases Rs. 8.6 Billion for IT Ministry Projects Under PSDP

The federal government has released Rs. 8.6 billion for the Ministry of Information Technology and Telecommunication (MoITT) projects under the Public Sector Development Programme (PSDP) during the first quarter of the ongoing financial year 2025-26. The released funds represent nearly 28 percent of the total Rs. 31 billion approved for the IT Ministry’s PSDP projects for the current fiscal year. Officials confirmed that the amount has already been fully utilized across various development initiatives. According to a written reply by the IT Ministry to the National Assembly Standing Committee, a total of Rs. 15 billion has been allocated for the Karachi IT Park, while another Rs. 7 billion has been earmarked for the Islamabad IT Park. Both projects are being financed through a soft loan from a Korean bank. The committee was further informed that over 80 percent of the construction work on the Islamabad IT Park has been completed, and the facility is expected to become functional by the end of September this year, in line with the directives of the Prime Minister. Officials highlighted that the Islamabad IT Park will serve as a major hub for innovation, technology services, and IT exports once operational. The project is seen as a critical step toward strengthening Pakistan’s digital infrastructure and creating opportunities for local startups and entrepreneurs. Regarding the Karachi IT Park, the committee was briefed that while funds have been earmarked, the project is still undergoing revised planning and work is in progress. The committee appreciated the Ministry of IT and its attached departments for providing a comprehensive briefing and assured compliance with the recommendations, including the directive that Ignite expand its programs to district-level educational institutions to benefit more youth and students with entrepreneurial opportunities and technical training.