Urban Development Through the Construction of 25 New Software Technology Parks

So far, more than 100 IT companies are operating in 15 software parks, with tens of thousands of people directly employed. Pakistan successfully earned $1 billion extra in the last financial year with a 23% increase in IT exports. Given the development of the IT industry, Pakistan is ready to construct 25 new software technology parks over the next two years under public-private partnerships.

The plan is to make sure urban developments through the technology parks. To boost IT products and exports in several cities- Islamabad, Lahore, Quetta, Gwadar, Faisalabad, Bannu, Swat Mardan, Sukkur, and Hyderabad.

A 44,000 square-foot software technology park has been inaugurated at the Amazon Business Center, run by the Emirates Group of Companies, partnering with the Ministry of Information Technology and the private sector.

The government has announced attractive incentives of ten-year rebates on income tax, property tax, general sales tax, customs, and profits, and numerous other taxes to achieve this goal. Efforts are being made to convert unused buildings into modern IT parks. Besides, the country plans to make IT parks in different universities.

Undoubtedly, the establishment of Software Technology Park will be a golden opportunity for the creative youth here to showcase their talents worldwide and earn huge revenue for Pakistan.

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