The world is moving toward information technology rapidly. Every country has fast speed the process of digitization and modernization. Although, late but Pakistan has also set foot in the world of digitization. The establishment of IT parks and STZA shows that the country is fully committed to evolve with the latest trends and technology. In a recent development, it has been revealed that Karachi is going to get an IT park soon.
Karachi where most of the country’s population resides is all set to welcome new technology. The IT Park is a much-needed initiative for attracting foreign direct investment, IT companies, and new talent and skills to come to the fore. This will increase the overall potential of the country.
The IT Park will be set up in Karachi near the airport. The Civil Aviation Authority has acquired land for Rs31 billion for the project. The IT Minister said, “Plots will be available at much lower rates in the IT park to encourage a maximum number of small and medium enterprises (SMEs) associated with IT services to establish their businesses, which will be fully equipped with state-of-the-art infrastructure and all IT-related facilities.”
The park will be a state-of-the-art facility that will create job opportunities for the youth curbing the unemployability. The minister while talking about the IT exports said “When I took over the charge of the ministry, the IT exports were even less than $ 1 billion. With the help of stakeholders, we developed future course of action for the growth of IT exports.” In fiscal year 2019-20, the country’s IT exports up from $ 1 billion to $1.4 billion, and in the FY 2020-21 exports recorded $2.1 billion.” He added: “We are expecting $3 billion plus by this year, and $ 5 billion next year.”
CEO of Alpha Beta Core, Khurram Schehzad said “Although brick and mortar is not a roadblock to technological development and digitization, it depends on how the piece of land is utilized to create an ecosystem where incentives are timely provided and technological hubs are created for not only tech businesses but also for all the SMEs backed by tech infrastructure, skill development and research and development (R&D).”
IT park in Karachi will generate efficient ways of running businesses through technology. It will not only help people upgrade their skills but also create an environment where institutions and academics would come together and work on the evolution of technologies.