Govt allocates Rs90mn to establish 25 STPs

July 21, 2022: The government has allocated Rs90 million for the establishment of 25 Software Technology Parks (STPs) across the country to facilitate IT startups, freelancers, SMEs, and IT companies.

The proposed project envisages the establishment of 25 STPs across the country including in Karachi, Lahore, and Islamabad by converting public, private owned, and dilapidated office buildings, factories, and warehouses to provide IT-enabled office space to IT & ITeS companies at affordable rates.

The main objective is to facilitate IT startups, freelancers, SMEs, and IT companies operating across the country with a rental subsidy to meet their high operating costs and resolve workspace issues said an official of the IT ministry.

This initiative will also address workspace shortages in main cities like Karachi, Lahore, and Islamabad and will provide a reliable and secure infrastructure and high-speed internet facility.

It will also strengthen the linkage between the IT industry and local universities of targeted cities to produce synergies and upgrade IT competitiveness. This project will also help in boosting IT growth, and encourage companies to the growth of IT remittances and international business collaborations.

The project aimed to bring together innovative technology companies in a work conducive environment. These STPs will not only promote academia and industry linkages but also bridge gaps in technology and infrastructure access in secondary and tertiary cities, helping in boosting IT exports.

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