USD 88.25 Million Loan Agreement Signed For IT Park

USD 88.25 million loan agreement signed for IT park

For the establishment of Information Technology (IT) Park cost estimate for first phase is USD 88.25 million for which loan agreement has been signed.

ISLAMABAD, (UrduPoint / Pakistan Point News - 26th Apr, 2018 ) :For the establishment of Information Technology (IT) Park cost estimate for first phase is USD 88.25 million for which loan agreement has been signed.

According to Economic Survey of Pakistan 2017-18, released here on Thursday by Advisor to Prime Minister on Finance Miftah Ismail, a new state-of-the-art IT Park in Islamabad is being established under financing from Korea Exim bank through the Economic Development Cooperation Fund, spreading over an area of 47.

7 acres of land.

The Software Technology Parks are a major factor in facilitating the IT companies and play a major role in the development of the IT industry. The construction of IT Park will be undertaken in two phases on 14.9 acres of land is expected that design and construction of IT Park will be completed by 2020.

The Ministry of IT and Telecom is in process of planning, for undertaking the feasibility study, to establish such state-of-the-art technology parks in the cities of Lahore and Karachi.