PM Imran inaugurates Special Technology Zone 'Lahore Technopolis'

PM Imran inaugurates Special Technology Zone 'Lahore Technopolis'

Lahore (Web Desk): Prime Minister Imran Khan on Thursday said that Pakistan can progress rapidly by bringing revolution through Information Technology (IT) sector.

Addressing the inauguration ceremony of Special Technology Zone 'Lahore Technopolis', said the project would help provide incentives to the tech industry and bring ease for the businessmen, in accordance with the government’s vision.

Special Technology Zones being developed all across the country would be home to Science & Technology Parks, manufacturing units, research and development centers of global tech companies and software houses. It will also feature, universities, incubators, accelerators and other ecosystem players.

Before Lahore, Islamabad Technopolis was also announced earlier this year.

PM Imran said that the IT sector would also address the issue of unemployment to the youth particularly the women besides boosting the country’s exports.

The premier said that hurdles in business are being removed to accelerate the economic activities. He said that boosting exports and creation of new jobs are two main issues.

He said that the economy cannot progress without boosting exports.

Citing the Chinese model of development, the prime minister said the country achieved remarkable progress and steered 700 million people out of poverty by eliminating corruption by jailing over 450 ministerial-level people and enhancing exports.

The prime minister called for redirecting the orientation of the government as well as the population towards enhancing exports and wealth creation.

He said taking advantage of its 12 climatic zones, the country could reduce its import bill of commodities like edible oil through indigenous production of palm oil.

Calling them the biggest asset, the prime minister also emphasized the involvement of the overseas Pakistanis towards investment and wealth creation in Pakistan. He said China and India had also first attracted their own firms operating abroad to invest at home.

He said the Pakistani individuals as well as the firms operating abroad including the Silicon Valley were interested to invest in Pakistan which necessitated incentives and ease of doing business.

Prime Minister Imran Khan said the objective behind establishing the Technopolis projects in Lahore, Karachi and KP was to make Pakistan join the tech race and provide employment to the people.

Earlier, the prime minister also distributed licenses among the companies which would be operating in the Technopolis.

The event also marked the signing of a Memorandum of Understanding for an investment of $300 million for the establishment of another three technology zones in different parts of the country.

Speaking on the occasion, Punjab Chief Minister Sardar Usman Buzdar said Lahore had been selected the Technopolis considering the existence of universities and other tech institutes as well as companies in the city.

He said the project would help carry out technology-based researches and studies.

In order to attract investment to Technopolis, the government had given a 10-year tax exemption to companies operating there. The companies from various countries like US, Canada, China and Australia were approaching to invest there, he added.