Karachi IT Park Will Provide 20,000 Jobs After Completion in 2026: Minister

Federal Minister for Information Technology and Telecommunication Syed Amin-ul-Haque Monday said that the Karachi IT Park will be completed by June 2026 and create employment opportunities for more than 20,000 IT professionals. While addressing the groundbreaking ceremony of the Karachi IT Park, the minister said that the total cost of the project is $186.65 million out of which $158.4 million will be provided by Korea Eximbank whereas the remaining $28 million will be provided under the Public Sector Development Program (PSDP). Highlighting the objective of the project, the minister said that the Park will support the creation of knowledge-based enterprises. He said that the benefits of technology parks are not just limited to park-based companies, but also the ones operating outside them. The minister also said that the IT Park would house more than 225 startups, small and medium enterprises (SMEs), and local and international companies. Besides, world-class facilities including a testing laboratory, classrooms, industry-academia liaison center, and auditorium will also be established in the Park, added the minister. The Park will be an 11-storey building occupying an area of 106,449 square meters. He added that the project will not only benefit Karachities but IT professionals and companies in Sindh and all over Pakistan. The project will play a major role in strengthening Pakistan’s economy, said the IT minister.