Islamabad to Get New Technology Park

The Public Private Partnership Authority (P3A) Board has approved funding support to prepare Islamabad Technopolis for development under a public-private partnership (PPP) model.

The decision was taken at the authority’s 44th board meeting chaired by Prime Minister’s Adviser on Privatisation Muhammad Ali in Islamabad on Monday.

The funding will support project preparation and the appointment of a transaction adviser to develop a viable PPP structure for the technology park.

The Islamabad Technopolis project, led by the Special Technology Zones Authority (STZA), is planned as an integrated technology park aimed at promoting technology exports, innovation, skilled jobs and technology transfer.

The project will also seek private-sector investment to develop the proposed technology hub.

The P3A Board separately reviewed a proposal to commercially develop selected Pakistan Railways properties through the Railway Estate Development and Marketing Company (REDAMCO).

A pilot project covering railway properties in Karachi is planned first, with additional sites to be considered in later phases based on the pilot’s performance.

The initiative is intended to bring valuable railway land into commercial use through private-sector participation and create sustainable long-term revenue streams for Pakistan Railways.

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