Pakistan, Korea sign rupee 10 billion loan agreement to establish IT park in Islamabad

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An agreement was signed between Pakistan and Korea for Rs. 10 billion dollar loan to establish a state-of-the-art information technology park in Islamabad. The park is part of the Prime Minister’s vision for a digital Pakistan.

The ceremony took place earlier in the day when the Ministry of Information Technology and the Korea Exim Bank signed the agreement. Finance Minister Ishaq Dar was also present at the ceremony where he shared his vision of a digitally and financially inclusive Pakistan.

He said that 5,000 computer experts will be filled with jobs with the establishment of this computer park. He added that additional computer parks in Lahore and Karachi will also be created.

The Islamabad computer park will be installed on an area of ​​42 acres. More than 100 IT companies will be hosted in this park. The IT park will also have its own data center.

The minister expressed great interest in continuing collaboration with Korea and mentioned that the Koreans helped build Pakistan’s first highway known as the Islamabad-Lahore Highway.

The representative of Korean Exim Bank also expressed keen interest in economic and business opportunities in Pakistan. He mentioned that Pakistan is home to over 2000 IT companies and universities produce thousands of talented IT graduates every year.

He said the Korean Exim Bank is keen to help Pakistan achieve socio-economic prosperity.


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