The Islamabad IT Park project, overseen by the Ministry of IT & Telecom (MoITT), has experienced delays that have increased the project cost by approximately Rs. 2.76 billion. The project now requires an additional Rs. 9.858 billion from the next fiscal year’s Public Sector Development Program (PSDP), bringing the revised total cost to Rs. 26.065 billion.

Initially estimated at Rs. 23.303 billion, the project began on April 20, 2016, and is expected to be completed by June 30, 2026. To date, Rs. 16.207 billion has been spent, with only 38 percent of the physical work completed despite utilizing 40 percent of the allocated budget.

The groundbreaking ceremony for the IT Park was held on May 26, 2021, at Chak Shahzad, attended by notable figures including the then Minister for IT & Telecom, Syed Amin Ul Haq, and the Ambassador of the Republic of Korea, Suh Sangpyo.

Developed with financial assistance from Exim Bank Korea, the IT Park spans 66,893 square meters and will comprise twelve stories, including two underground and ten above-ground floors. It is designed to provide office space for over 120 startups and SMEs, along with testing laboratories, classrooms, an industry-academia linkage center, and an auditorium.

The IT Park is a significant component of Pakistan’s Vision 2025, the Sustainable Development Goals (SDGs), and the Digital Pakistan Policy. It aims to establish a modern technology hub with a Level 3 data center, an incubation center for 15 startups, a business support center, and commercial and recreational spaces. The project is expected to generate 10,000 jobs. While the grey structure has been completed, finishing work and Mechanical, Electrical, and Plumbing (MEP) installations are still in progress. The data center’s design has already been certified by the Telecommunications Industry Association (TIA).

Despite concerns over rising costs, IT Park Project Director Aamir Ahmed refuted claims of budget overruns, stating that the project remains within the approved cost. He explained that the project was sanctioned in US dollars, and its value in Pakistani rupees fluctuates due to exchange rate variations. The price set in the PC-1 document in 2017 remains unchanged in dollar terms, and all payments are being made in dollars.

Ministry of IT officials assert that the project is progressing steadily and emphasize that the IT Park will play a crucial role in strengthening Pakistan’s technology sector.