IT Park approved for Karachi worth Rs.31 Billion

May 21, 2021

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The Central Development Working Party (CDWP) of the Federal Ministry of Planning and Development has given in-principle approval for three development projects worth Rs 55.5 billion, including an IT Park in Karachi worth Rs 31.2 billion.

The CDWP meeting, chaired by the Deputy Head of the Planning Commission, Muhammad Jahanzeb Khan, approved Rs 3.4 billion for the cancer hospital in Muzaffarabad, Azad Jammu and Kashmir and recommended two other projects for approval by the Executive Committee of the National Economic Council. (Ecnec).

Muzaffarabad Cancer Hospital will be established and operated by the Pakistan Atomic Energy Commission (PAEC), just like similar hospitals in the provincial capitals and Islamabad.

The CDWP reviewed a Rs 31.2 billion project to establish an IT park in Karachi and has recommended for Ecnec’s approval. The project, which will be implemented by the Pakistan Software Export Board (PSEB), involves the construction of an 11-story IT building near Jinnah International Airport. The project is funded by the Korea Economic Development Co-operation Fund (EDCF) with 85 percent participation ($ 158.5 million) as a loan and a 15 percent participation from Pakistan’s Public Sector Development Program (PSDP).