ISLAMABAD - Minister of State for IT Anusha Rahman Tuesday said that a Korean bank has started feasibility study for the state-of-the-art IT park in capital and by next year the contract signing and ground breaking ceremony of the project will take place.

Rahman, while addressing a workshop aimed at facilitating IT start-ups and entrepreneurs, said that that Tech City and other such incubation projects will provide an eco-system to the start-ups and entrepreneurs, adding that the government is committed to make local IT & telecom as the fastest growing sector in the region. She said that land owned by PSEB has already been allocated for the park.

She mentioned that according to State Bank of Pakistan, IT remittances have grown by 41% since last year and IT exports are 10% of Pakistan’s total services exports at present and the goal of ministry and PSEB is to take IT exports from $2.2 billion at present to more than $5 billion by 2017. Rehman once again emphasized that IT companies should report their foreign remittances through the banking channel so that PSEB can get an accurate picture of IT exports of Pakistan.

MD PSEB Asim Shahryar Husain highlighted PSEB’s contributions to industry and shared future plans. On the second day of the workshop (Wednesday), start-ups will present their business plans and the CEOs of large IT companies will share their success stories.