Govt Allocates Rs 90 Million to Establish 25 STPs

Software Technology Park

The government has announced the allocation of PKR 90 million for the foundation of 25 Software Technology Parks (STPs) across the country. This will greatly facilitate IT startups, IT companies, freelancers, and SMEs.

It is recommended that 25 STPs be established across Pakistan including Karachi, Lahore, and Islamabad by converting public and private office buildings, factories, and warehouses that have fallen into disuse to provide IT & ITeS enterprises with low-cost office space equipped with IT infrastructure.

According to an IT ministry official, the major goal is to provide rental subsidies to help IT startups, freelancers, SME’s, and other IT enterprises across the country deal with their high operational costs and workspace challenges.

In addition to addressing the lack of office space in major cities like Karachi, Lahore, and Islamabad, this effort will also provide a dependable and secure infrastructure as well as high-speed internet access. As a result, IT companies and colleges in certain cities will be better able to work together, leading to increased IT competitiveness. With this project, IT growth may be stimulated as well as IT remittances and international business relationships can be expanded.

The goal of the initiative was to create a collaborative workspace for cutting-edge technology firms. It is hoped that these STPs would assist bridge the gap between secondary and tertiary cities and the IT industry, which will in turn help to increase IT exports.

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