Tag: comsats

Pak-China IT Park in Islamabad Goes to Execution Phase

A “Go Ahead” is given for the finalization of the land identified with the stakeholders and for completion of other formalities for establishment of Science and Technology Park in Pakistan to The Xinjiang No.13 Division of Construction Corp, Hami, China.

Sources revealed that Xinjiang No 13 Division asked for providing the digital map of land Islamabad city for working on the plan and the starting of the feasibility study. The details of the component companies in this venture from Chinese will be provided very soon.

The establishment of Pak-China international science and technology & commercial and logistic park in Pakistan looking at an investment to around $1.5 billion under the China-Pakistan Economic Corridor (CPEC) was agreed to by China.

The area of construction will be in the stretch of 500 hectares and completion of the project will be a period of 10 years in 3 distinct phases of 3, 4, and 3 years respectively.

The structure of investment is equity participation by providing land by Pakistan, while the finance is from China. This is a co-ownership venture between Pakistani side and Chinese side and Chinese partners will pull in merchants and project investment. An employment generation of up to 150,000 personnel is looked at during this period.

The project has two parts:

  • Establishment of Science and Technology City
  • Establishment of Commercial and Logistics Park

 

COMSATS Institute of Information Technology (CIIT) will be undertaking Science and Technology City along with Chinese companies. A commercial and logistic park proposed to be co-owned by National Logistics Cell (NLC) from Pakistan side is also agreed upon by the Chinese.

The key functions of the Science & Technology Park are:

  1. To provide an exhibition and developmental platform for academia and industry (local and international)
  2. To develop knowledge-based enterprises by undertaking research based routes to the development and commercialization of ideas and technologies
  3. To act as a knowledge provider by establishing university research and education infrastructure, applied research laboratory facilities by public bodies at the Technology Park
  4. To be a dynamic business and trading platform for local and international industries
  5. To showcase Pak-China commodities in order to provide impetus to the existing collaborative ventures while simultaneously encouraging new linkages
  6. To act as a wholesale and retail market
  7. To provide Financial support services such as through establishing venture capital entities, regional development agencies and/or banks at the Technology Park
  8. To provide modern e-commerce platform keeping up with latest global trends
  9. To act as an investment and financing platform for novel startups and technologies
  10. To set-up Business Incubators and Business Development Centers, both for male and female entrepreneurs alike.

 

The Technology Park will be a real-estate development entity owned by the Pakistan government / COMSATS Institute of Information Technology and taken care of by qualified professionals.

It looks for supporting innovation, entrepreneurship, promotion of S&T ventures, providing interface to academia and industry and kindling the competition of the geographic environments by locating knowledge producing, adapting and using enterprises.

The positive factors behind the Pak-China IT Park are increased economic activity via investments and jobs creation, enhancing capability, making the knowledge ventures more visible, and knowledge workers knowledge workers mobility.

Science Technology & Logistics Center, to be Established in Islamabad

Pakistan is on its development path and may bring more benefits to academic and technological circles. Pakistan Government has just approved the establishment of a Science and Technology & Logistics Centre in Islamabad.

A high profile delegation supported for this who came from Xinjiang, China, representatives from the Ministry of Science and Technology, COMSATS Institute of Information Technology, Board of Investment, Ministry of Foreign Affairs and Ministry of Planning, Development and Reforms organized a meeting to confer the objectives of the huge project that can help Pakistani entrepreneurs and industries so they can spread to Chinese trade commodities.

The meeting was organized at Ministry of Science and Technology, Islamabad, was presided over by Rana Tanveer Hussain, the Federal Minister of Science and Technology. This impulsive project will comprise a science and technology park, Logistics Park, a five-star hotel, and a mega shopping mall.

China is giving complete funds for this project, having an aim to get the benefit from the Kashgar to Gwadar route in streamlining Chinese trade across the region. Islamabad is the hub for its all activities because of its venture to the fact that it facilitates the perfect planning between the areas. A fund of RMB 18 billion has been floated, having a plan how project will be carried out and finished in four phases.

The concern person from the Planning Commission Dr. Zahir Shah was also present there, giving an assurance the Federal Minister of Science and Technology of his complete support. He granted that the connecting the project with Pak-China Economic Corridor is careful. Adding assurance that efforts will be made to confirm it. A particular economic zone will be provided as per the representative from the Board of Investment .

Mr. Huang Zhigang, Secretary General of the Communist Party, was satisfied with the progress. In this regard, Secretary MoST Kamran Ali Qureshi also apprised the participants of the progress made by COMSATS IIT in deploying a professional team to oversee the project.

At the end of the meeting, it was decided by the MoST Secretary to expedite work on the project at the earliest by establishing a dedicated office with the team in place.

source

Exit mobile version