Capital City Plans for Rs 6bn Software Park

In an agreement with the Korean government, an Information Technology (IT) software park is to be established in the federal capital of Pakistan. The total cost of the IT park will be Rs. 6bn and shall be a major milestone in the government’s effort in promoting information and communication technology (ICT) in the higher education sector.

Government officials said that the government is establishing smart campuses in different universities and providing ICT infrastructure linking 50 cities.

IT export houses and companies operating from the software park will be allowed to open foreign exchange accounts in Pakistan on the condition that the deposit in these accounts will be allowed through remittances from abroad in respect of their export earnings. Moreover, to facilitate people, import and custom duties on smart phones will also be reduced thus encouraging maximum use of these latest devices.

Source: Express Tribune