Amir Saeed

The development of a mega IT Park in Karachi is set to generate 13,400 jobs and boost the country’s economy by addressing infrastructural deficits, fostering innovation, and driving IT exports.

Talking to WealthPK, Awais Ahmad, Director at Tech Solutions Pro, a leading IT solutions provider, highlighted that Karachi is set to become a hub of innovation with the establishment of a mega IT Park, a project that aims to generate jobs and boost the economy. “The initiative, spearheaded by the federal government in collaboration with the Sindh government, is a significant step towards addressing the infrastructural deficits that have long hampered the city’s IT sector.”

Karachi is developing a state-of-the-art IT Park spanning 1.12 million square feet, expected to be completed by 2027. This project, estimated to cost $186 million, is projected to generate 13,400 jobs and increase IT exports by $90 million. The IT Park aims to be a hub of innovation, creating job and business opportunities, especially for the youth. According to Ahmad, the city’s IT sector has the potential for exponential export growth, which can deliver swift economic benefits.

However, infrastructural deficits significantly hampered this potential, limiting its capacity to attract substantial investments and fully capitalise on IT export opportunities. Ahmad advocated for a collaborative strategy, proposing a joint initiative between industry stakeholders and governmental bodies like the Pakistan Software Export Board (PSEB). “This partnership would focus on attracting investment, exploring new export markets, and simplifying visa processes for IT professionals.”

He also underscored the importance of raising awareness about the advantages of establishing Software Technology Parks (STPs) and Special Technology Zones (STZs) to foster innovation and growth, and recommended the establishment of a dedicated software technology park in Karachi to provide the resources and infrastructure to support the IT sector and facilitate its expansion into international markets.

Talking to WealthPK, Muhammad Iqbal Kakakhail, chief executive officer and Co-Founder of IdeoMetriX, a software company, called for strategic IT infrastructure development in Karachi, emphasising that the city’s IT sector growth is stunted by a lack of adequate resources and infrastructure despite its talented pool of over 60,000 tech professionals.

He advocated for policies that foster innovation and create a supportive ecosystem for tech startups, highlighting the importance of public-private partnerships to establish technology incubation centres that provide mentorship, workspace, and networking opportunities to support emerging startups. Kakakhail emphasised that by prioritising the development of a robust IT infrastructure and fostering a culture of innovation, Karachi can unlock its full potential as a regional tech hub and significantly contribute to the country’s GDP.

He pointed out that the Karachi IT Park is poised to be a catalyst for job creation and business opportunities, particularly for the youth. He highlighted that the country’s IT and ITeS export strategy aims to increase IT exports significantly in the next three years, and believed that the IT sector acts as an incubator for innovation and technological advancement, essential for Pakistan’s global competitiveness.

Credit: INP-WealthPk