Pakistan, Korea sign Rs 10 bln loan agreement for IT Park in Islamabad
The Finance Minister said a proper multi-purpose park is to be established with the assistance of South Korea.
First state-of-the-art Information Technology Park is to be set up in Islamabad as part of Prime Minister's vision of Digital Pakistan.
An agreement to this effect was signed in Islamabad on Tuesday between Ministry of Information Technology and Korea Exim Bank for ten billion rupee loan agreement.
Minister for Finance Ishaq Dar, who witnessed the signing ceremony, said the Government has a clear programme to digital and financially inclusive Pakistan.
He said it was during previous tenure of PML(N) that Awami Markaz building in Islamabad was converted into a software park and now a proper multi-purpose park is to be established with the assistance of South Korea.
The Minister said Pakistan looks forward towards Korea for more closer cooperation. He pointed out that Korean helped construct Pakistan's first motorway known as Islamabad-Lahore Motorway.
Minister of State for Information Technology Anusha Rehman said the modern technology park would be an integrated facility and help realize the dream of digital Pakistan.
She said after Islamabad, international standard information technology parks would also be set up in Karachi and Lahore.
Anusha Rehman said Islamabad Park, spread over 42 acres of land, will have a data centre and capacity to accommodate more than one hundred IT companies.
Representative of the Korean Exim Bank said his institution decided to cooperate with Pakistan in IT field in view of vast potential of the country in the sector.
He said there are more than two thousand IT companies in Pakistan and universities are producing hundreds of thousands of IT personnel.
He said the Korean Exim Bank is ready to contribute towards socio-economic development of Pakistan.