ISLAMABAD, Jul 18: The federal government has decided to construct a technology park in Islamabad and an amount of Rs 719 million has been allocated for the purpose in budget for the current financial year. According to official documents, the park will encourage innovative solutions and provide futuristic entrepreneurship opportunities to the youth of Pakistan.

The documents revealed that the federal government has allocated a huge sum of Rs 6.331 billion under the PSDP for the financial year 2022-23 for ongoing and new schemes of the Information Technology and Telecom Division. Of the total allocation, Rs 5.380 billion have been set aside for 31 ongoing schemes, while Rs 950 million for five new schemes. The allocation for new schemes includes Rs 500 million for establishment of four knowledge parks; Rs 250 million for expansion of GPON FTTH Service in new and existing cities and Rs 100 million for Digital Economy Enhancement Project.

Among the ongoing schemes, Rs 320 million have been allocated for High Impact Skill Bootcamp in Islamabad and Karachi; and Rs 300 million each for Protection and Upgradation of Pak-China Optical Fibre Cable Project Phase-I  for establishment of cross border connectivity project in AJK and GB, upgradation of existing TDM-Based Backhaul Microwave with IP-Based Backhaul Microwave Network in AJK and GB and Upgradation of Transmission Network and Replacement of Optical Fibre Cable in AJK and GB.

Credits: INP-WealthPk