Islamabad: The Capital Development Authority (CDA) and Special Technology Zones Authority (STZA) have initiated work on establishing a Special Technology Zone (STZ) in Islamabad, aimed at transforming the capital into a modern Technopolis City.
CDA Chairman Muhammad Ali Randhawa and STZA Chairman Azfar Manzoor jointly chaired a meeting at the CDA Headquarters to review proposals for the development of the STZ. The zone will host hi-tech companies and entrepreneurs, providing space for technology and production houses focused on innovation and advanced industries.
During the meeting, it was decided that STZA will act as the regulatory body and issue licenses to hi-tech firms operating within the proposed zone. A joint working group will also be formed to examine financial and operational models, evaluate various proposals, and submit recommendations to the federal government.
Officials were informed that the government plans to offer special incentives — including tax rebates and duty concessions — to attract technology investors.
Chairman Randhawa emphasized that developing the Special Technology Zone is among CDA’s top priorities, adding that the project’s financial and operational framework is being designed based on sustainable, globally accepted practices to ensure long-term viability.
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