Development Work Of PSEB’s IT Park In Islamabad Begins

In this Post:
–Understanding the Concept of Technology Park
–More About the Upcoming IT Park In Islamabad
–Core Objectives of IT Parks In Pakistan
–About PSEB
–More About the field of Information Technology In Pakistan

Counted among the safest and most beautiful metropolises in the world, the capital city of Islamabad is on its way to becoming the technological hub of the region. It is now home to some of the most famous coworking spaces in Pakistan that provide suitable platforms to freelancers and independent IT professionals to prosper in their respective fields. Moreover, to further promote the field of digital technology in the capital, Pakistan Software Exchange Board (PSEB), which is a government-funded organisation, has recently made an appreciable move and initiated the work on the most awaited Information Technology (IT) park in Islamabad. In this blog, we’ll further elaborate on this ground-breaking development for your understanding, but first let’s get to know more about the concept of technology park itself.

Understanding the Concept of Technology Park

A technology park, which is often referred to as a ‘science and technology park,’ is a designated area for research-based facilities and buildings that are designed to house science and technology-related firms. It serves as a hub for IT professionals where they have all the latest tools related to their field at their disposal, along with the advanced infrastructure to ensure high-speed connectivity.

More About the Upcoming IT Park In Islamabad

According to the current Minister for Information Technology and Telecommunication Khalid Maqbool Siddiqui, the purpose of the upcoming IT park in Islamabad is to promote the sector of Information Technology (IT) and attract foreign investment. While further elaborating on the government’s curated plan of actions to boost the country’s IT sector, he said, “Work on Information Technology Park in the federal capital, having state of the art facilities, has been started whilst the second IT Park would be established in Karachi to further strengthen this sector.”

Core Objectives of IT Parks In Pakistan

As per PSEB’s official website, the following are the core objectives of IT parks in Pakistan:

• To come up with reliable infrastructure for Information and Communication Technologies (ICTs)and other services associated with IT and ITeS companies in Pakistan.
• To boost the development and export of Software and other related IT services.
• Provision of hi-tech mediums to ensure fast-paced data connectivity including data communication and other value-added services, facilitating IT/ITeS companies.
• To provide a reliable backup power system to counter power failure issues.

About PSEB

Pakistan Software Exchange Board (PSEB) is a government service that was founded in 1995. Overseen directly by the Ministry of Information Technology and Communication in Pakistan, PSEB has been mandated to facilitate the field of Information Technology in the country by promoting it country-wide as well as in the international markets. 

Some of the core PSEB services include international marketing, IT facilitation and counselling centres, data node operations (for enhanced bandwidth services), management of software and technology parks in Pakistan, organisation of research-based projects and certification programmes for young IT professionals.

Pakistan Software Exchange Board also organises many activities and IT awareness programs on domestic and global levels. The organisation of such activities is one of the most fruitful ways to connect the local IT professionals with international entities, which gives international exposure to Pakistan’s IT Industry and attracts foreign investors. PSEB also collaborates with International Trade Associations (ITA) and works in association with over 3000 IT/ITes companies in different countries around the world to effectively support the field of Information Technology in Pakistan.

The number of established and operational Software and Technology Parks in Pakistan is over 15, out of which the most popular ones have been listed as under along with their areas and names of the host cities.

More About the field of Information Technology In Pakistan

As per the statistical data gathered by PSEB, Pakistan is now one of the most well-established destinations in the global IT industry. Moreover, the field of Information Technology sector in Pakistan has shown continuous revenue growth over the past decade with an increase of 20-30% in its earnings each year. 

Some of the key takeaways highlighting the progress of Pakistan’s IT sector have been listed below: 

• Exponential growth has been witnessed in the country’s IT exports over the last decade
• As of now, the exports of IT and other related services have already surpassed the $1 billion mark.
• According to Upwork, a renowned global freelancing website, the name of Pakistan is in top 3 countries in terms of global freelance earnings.
• The country is now home to over 2000 IT companies and software houses, generating a large sum of revenue by offering their products and services in the global market.
• As per the latest statistics, internet users in Pakistan make around 36% of its total population.
• As of now, the government of Pakistan has exempted IT exports from all kinds of taxes to effectively encourage investments and growth in the field of technology.
• Exhibiting outstanding performances on global platforms, the IT companies in Pakistan have won dozens of gold and silver awards in renowned international events like the Asia Pacific ICT Awards (APICTA).
• Pakistan is home to a large number of incubators, accelerators and co-working spaces that are sustaining the momentum of the growth of the local IT sector. Moreover, events like Digital Youth Summit, Startup Expos, and Civic Hackathons also play a significant role in this regard.

This was our detailed overview of the latest developments pertaining to the recently announced IT park in Islamabad. Feel free to share your valuable feedback at blog@zameen.com. Your suggestions help us improve.

Meanwhile, if you are a tech-geek, you may also be interested in knowing that Pakistan has recently secured 11th position in global Esports earning and has been ranked 3rd in the international freelance market.

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