Pakistan seeks $50 million loan for IT Park

ISLAMABAD: Pakistan has sought $50 million in loan from Korea Eximbank for the construction of IT Park in the capital city. 

Government officials, at a meeting on Wednesday, asked a delegation of Korea Eximbank to submit their final report for providing $50 million to expedite the project completion.

Minister of State for IT Anusha Rehman Khan requested the Korean team to speed up their efforts and try to submit their final report by next week, “So that we could enter in to an implementation phase of the project at the earliest.” 

Khan urged all stakeholders to collectively work to positively achieve the milestones.

The bank’s team, conducting feasibility study for the first-purpose built IT Park in Islamabad, shared the salient features, models and proposed designs along with other technical aspects with the minister. 

Minister Khan said the government will provide infrastructure to the IT industry to leverage the full potential of the talent. 

“IT Park will provide a whole ecosystem, including affordable space to IT companies along with power, bandwidth, and linkages between industry and academia. (This) will be followed by two more parks in Lahore and Karachi,” she said.

“We have an abundant IT talent and IT parks would be a good way of leveraging that talent to boost Pakistan’s IT exports which have already grown over 40 percent since the last year.” 

She appreciated the passion and spirit of Korean team and their constant support in IT park project.

The minister hoped that the IT Park will further augment the long lasting and strong relationship between Pakistan and Korea. 

Federal Secretary IT Rizwan Bashir Khan and senior officials from the Ministry of IT and Pakistan Software Exports Board discussed the various aspects of the feasibility study with the Korean experts. Yim Deok Soon and Park Hung Kook lead the 13-member Korean team.