ISLAMABAD: The Ministry of Information Technology has sought fresh funding for the establishment of an IT Park in Karachi in the upcoming fiscal year 2026-27 under the Public Sector Development Program (PSDP), as no company has submitted a bid despite the tender being issued for the second time.
According to official documents, the total estimated cost of the project stands at Rs31.2 billion, with a completion timeline of six years. So far, Rs1.44 billion has been spent on the project. For the next fiscal year, the ministry has requested Rs11.5 billion to keep the initiative moving forward. The physical progress of the project has reached 10 percent, while financial progress remains at 5 percent.
The project, located near Karachi’s airport, has been facing delays for the past three years. Officials said the setbacks began after the Civil Aviation Authority raised objections to the building design. As a result, modifications had to be made to the layout plan, and the initial land allotment was cancelled. This development required the authorities to restart the approval process, leading to further delays.
Authorities issued tenders twice to hire a Korean contractor for the project, but no bids were received on either occasion. Following the approval of draft Request for Proposal (RFP) by the Korean Exim Bank, it has now been decided to float the tender for a third time. Officials have expressed optimism that competitive bids will be received in the upcoming round.
The IT Park is being developed over an area of 111,000 square meters and is modeled after the Islamabad IT Park. The project aims to promote technology, innovation and business activities in Karachi, providing a modern infrastructure to support the country’s growing IT and startup ecosystem.
