A private company will be establishing a state-of-the-art technology park in Karachi to boost Information Technology (IT) sector in Pakistan.
The park will have high-end technological facilities for local software houses and companies, and it will be the first technology park in the port city, the commercial hub of Sindh.
According to the official notification to the Pakistan Stock Exchange (PSX), the company has acquired 10,002 square yards of land in the Korangi Industrial Area.
The IT park is likely to be completed within two years, inclusive of the planning and designing phases.
According to the reports, the purpose of establishing technology parks is to boost their productivity by creating a helpful environment and available facilities.
A special technological zone was recently set up in Islamabad to promote Pakistan’s IT sector. The government is working to promote the IT industry and services while catering to both the local and international markets.
The sector had a remarkable performance over the last six months in terms of exports and the development of e-commerce at the local level while pushing the limits of the innovation of products and services.
One of the reasons why the IT sector boomed in India and the Philippines is that many IT parks have been established in these countries, which resulted in a robust increase in productivity and exports in this sector.
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