Islamabad to Get New Technology Park

The Public Private Partnership Authority (P3A) Board has authorized funding to prepare Islamabad Technopolis for development through a public-private partnership (PPP) model. The decision was made during the authority's 44th board meeting, chaired by Prime Minister's Adviser on Privatisation Muhammad Ali. The funding will assist in project preparation and hiring a transaction adviser to establish a viable PPP structure for the technology park.

The Islamabad Technopolis project, overseen by the Special Technology Zones Authority (STZA), aims to promote technology exports, innovation, skilled employment, and technology transfer. The project seeks private-sector investment to develop the proposed technology hub. The P3A Board also examined a proposal to commercially develop certain Pakistan Railways properties via the Railway Estate Development and Marketing Company (REDAMCO).

Initially, a pilot project will focus on railway properties in Karachi, with potential expansion to other sites contingent on the pilot's success. This initiative aims to utilize railway land commercially through private-sector involvement, generating sustainable long-term revenue streams for Pakistan Railways.