Islamabad: Special Technology Zones Authority (STZA) Chairman Amer Hashmi shared that the work on the development of five tech zones has started in Islamabad, Haripur, Lahore, and other cities to facilitate IT companies, according to a news story published on June 2.
The STZA chairman mentioned that the land was unused for many years and it has been awarded to the companies on a lease to promote the knowledge economy in the country. He went on to say that with the development of 60 parks in a year, the country can have PKR 5 billion revenue in 2-3 years. Moreover, it was disclosed that the STZA was established in October 2021, under an Act of Parliament and is being operated under the Cabinet Division.
It is pertinent to note that the concept of combined efforts and cooperation for the promotion of research and development (R&D) between industry, government, and academia was introduced in the 1950s at Stanford Research Park, USA. This concept has helped countries across the world to protect and enable the growth of innovation and knowledge and follow the path of wealth creation through knowledge-driven services and solutions.