The Pakistan Software Export Board (PSEB),a subsidiary of Ministry of IT and Telecommunication (MoITT), has decided to launch the Technology Park Development Project in Quetta.
The PC-2 of the project has been prepared, with an estimated initial cost of Rs14,043.725 million. The project will be launched with the assistance of the Korea’s Exim Bank, aiming to establish an IT Park in Quetta.
This project will be showcased in the Public Sector Development Program (PSDP) for the upcoming fiscal year. However, no funding will be requested from the PSDP, as the project is expected to be completed with the support of the Exim Bank.
MoITT under the PSEB, has set up 43 Software Technology Parks (STPs) across the country, housing 350 IT firms with 18,000 employees. The parks earn $100 million in foreign exchange and $15 million in domestic revenue every year.
IT Parks in Karachi and Islamabad are also being developed, which will provide 20,900 jobs and increase IT exports by $160 million. The government is also set to open 250 e-Rozgaar centres by 2027 to aid startups, IT training, and venture capital as part of Prime Minister’s initiative for digital empowerment.
Korea Eximbank, which is funding the IT park in Quetta, provided $76.3 million in 2018 to construct the first state-of-the-art information technology park in Islamabad.
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