IT Park in Islamabad: Overview, Facts and Latest Updates

The capital city of Islamabad is rapidly advancing towards becoming the region’s technological centre. IT parks in Islamabad are  revolutionary idea to help startups grow and let them play an important role in country’s economy.

It prides itself on being home to some of Pakistan’s most well-known coworking spaces that are offering independent IT workers and freelancers the ideal platforms to succeed in their respective fields.

Additionally, Pakistan Software Exchange Board (PSEB), a government-funded organisation, has made a commendable move and started construction on the eagerly anticipated Information Technology (IT) park in Islamabad in order to further boost the field of digital technology in the capital.

In this blog, Graana.com,  Pakistan’s smartest property portal, has comprehensively explained the IT parks in Islamabad.

 

What is a Technology Park?

 

 

A technology park, also known as a “science and technology park,” is a location dedicated exclusively to buildings and research facilities that are intended to accommodate businesses involved in science and technology.

It acts as a hub for IT experts where they have access to all the latest tools relevant to their line of work as well as cutting-edge infrastructure to guarantee high-speed connectivity.

 

What Is in The Pipeline?

The proposed IT park in Islamabad will strengthen the information technology (IT) industry and draw in international investment, according to Khalid Maqbool Siddiqui, the incumbent Minister for Information Technology and Telecommunication. 

While further enlightening on the systematic and well-structured plan of actions as devised by the government, he specified, “Work on Information Technology Park in the federal capital, having state of the art facilities, has been initiated whilst the second IT Park would be established in Karachi to further strengthen this sector.”

 

Key Objectives Of Technology Parks in Pakistan

According to the PSEB’s official website, Pakistan’s IT parks primarily strive to accomplish the following goals:

• to develop a robust infrastructure for Pakistan’s IT and ITeS industries, as well as for other services related to information and communication technologies (ICTs)
• to accelerate software development and exports, as well as the development of other IT-related services
• IT/ITeS enterprises are facilitated by the provision of high-tech media to enable quick data connectivity, including data communication and other value-added services
• to offer a reliable backup power solution to combat problems such as power outages
• to increase the employment rate

 

About PSEB (Pakistan Software Exchange Board)

 

 

Founded in 1995 by the Government of Pakistan the Pakistan Software Exchange Board (PSEB) is helping boost IT exports by training individuals to establish their businesses in the technological era.

PSEB, which is directly under the direction of Pakistan’s Ministry of Information Technology and Communication, has the responsibility of assisting the country’s information technology sector by promoting it both at a national level as well as in global markets.

International marketing, IT facilitation and counseling facilities, data node operations (for enhanced bandwidth services), management of software and technology parks in Pakistan, planning, and structuring of research-based projects, and certification programs are a few of the primary services that PSEB strives for to provide for young IT professionals.

 

Pakistan Software Exchange Board

Pakistan Software Exchange Board also coordinates a variety of events and IT awareness programs on both national and international levels.

The organization of such events has proven to be one of the most effective ways to link up local IT experts with global organizations as it not only promotes Pakistan’s IT sector in the global market but is also a vital source of drawing in foreign investors. 

To further promote Pakistan’s information technology industry in the most effective manner possible, PSEB works in conjunction with International Trade Associations (ITA) and also collaborates with more than 3000 IT/ITes enterprises located in other regions across the globe.

 

Establishment of Technology Parks

More than 15 active software and technology parks across the whole country are currently operating under the government. A news source says that Islamabad will have a science and technology park in the coming months. The goal is to give students access to research facilities that are on the cutting edge.

 Ministry of Science and Technology and COMSATS University Islamabad (CUI) will introduce the subject of science and technology park.

The project has managed to gain a staggering PKR 50 million in government funding.   this feasibility report will help them understand the different factors while establishing these parks.

According to Dr Raheel Qamar, rector of COMSATS University, the government intends to advance scientific research and education. In addition to offering contemporary facilities under one roof, the park will also encourage entrepreneurial activities.

We have listed the most well-known facilities in Islamabad with their names and the area they cover. 

• Evacuee Complex Software Technology Park (173,856 sq km)
• Awami Markaz Software Technology Park (82,405 sq km)
• KSL Software Technology Park (81,000 sq km)
• Meridian Software Technology Park (44,719 sq km)
• Rose Center Software Technology Park (30,000 sq km)

 

Key Takeaways in The Development of the IT Sector in Pakistan

According to the statistical information acquired by PSEB, Pakistan is currently one of the most well-known regions in the realm of international IT business.

Additionally, during the past ten years, Pakistan’s information technology industry has consistently increased its annual income by 20 to 30 percent.

The establishment of science and technology parks has further aided in the growth of the IT sector across Pakistan. 

 

Summary of the analysis of the development of Pakistan’s IT sector

Following is a summary of the analysis of the development of Pakistan’s IT sector:

• Over the past ten years, the country’s IT exports have grown exponentially
• The exports of IT services and other associated services have already crossed $1 billion.
• Pakistan is one of the top 3 countries in the world for freelance earnings, according to Upwork, a well-known international freelance website.
• currently, more than 2000 IT firms and software organizations are situated in Pakistan, and they bring in a significant amount of revenue by showcasing and selling their goods and services on the international market.
• The most recent figures show that 36% of Pakistan’s population are internet users.
• As of right now, the Pakistani government has exonerated all the bodies involved in IT exports from all taxes in an effort to effectively promote investments and technological development.
• The IT firms in Pakistan that were representing their country in the global market have received scores of gold and silver medals in prestigious international competitions, like the Asia Pacific ICT Awards, for their remarkable efforts on international stages (APICTA).
• Incubators, accelerators, and co-working spaces abound in Pakistan, where they are keeping the local IT sector’s expansion on track.
• Events like the Digital Youth Summit, Startup Expos, and Civic Hackathons have proven to be conducive to the sustenance of the growth in the IT sector.

The Bottom Line

This was the comprehensive summary of the most recent advancements in connection with the recently proposed IT park in Islamabad.

Being the capital city, Islamabad can benefit significantly from the state-of-the-art developments in the IT sector and can prove to be fruitful in generating potential candidates who can represent Pakistan at a global level. 

On a side note, if you’re a tech enthusiast, you might also be interested to know that Pakistan recently ranked third in the global freelance market and 11th in international Esports earnings.

For more information on IT such as software technology parks, visit Graana Blog.