ANL 14.00 Decreased By ▼ -0.34 (-2.37%)
ASC 13.52 Decreased By ▼ -0.43 (-3.08%)
ASL 14.38 Decreased By ▼ -0.72 (-4.77%)
BOP 8.41 Decreased By ▼ -0.11 (-1.29%)
BYCO 6.50 Decreased By ▼ -0.04 (-0.61%)
FCCL 18.20 Decreased By ▼ -0.60 (-3.19%)
FFBL 26.25 Decreased By ▼ -0.60 (-2.23%)
FFL 10.80 Decreased By ▼ -0.20 (-1.82%)
FNEL 10.36 Decreased By ▼ -0.15 (-1.43%)
GGGL 15.85 Decreased By ▼ -0.40 (-2.46%)
GGL 30.97 Decreased By ▼ -0.53 (-1.68%)
HUMNL 6.10 Decreased By ▼ -0.14 (-2.24%)
JSCL 16.50 Decreased By ▼ -0.39 (-2.31%)
KAPCO 33.00 Decreased By ▼ -0.10 (-0.3%)
KEL 3.22 Decreased By ▼ -0.05 (-1.53%)
MDTL 2.30 Increased By ▲ 0.03 (1.32%)
MLCF 34.90 Decreased By ▼ -2.20 (-5.93%)
NETSOL 100.01 Decreased By ▼ -2.79 (-2.71%)
PACE 4.40 Decreased By ▼ -0.28 (-5.98%)
PAEL 22.60 Decreased By ▼ -0.55 (-2.38%)
PIBTL 7.75 Decreased By ▼ -0.11 (-1.4%)
POWER 6.68 Decreased By ▼ -0.37 (-5.25%)
PRL 13.50 Decreased By ▼ -0.16 (-1.17%)
PTC 8.84 Decreased By ▼ -0.06 (-0.67%)
SILK 1.31 No Change ▼ 0.00 (0%)
SNGP 40.47 Decreased By ▼ -1.23 (-2.95%)
TELE 16.50 Decreased By ▼ -0.49 (-2.88%)
TRG 84.79 Decreased By ▼ -2.96 (-3.37%)
UNITY 24.43 Decreased By ▼ -0.92 (-3.63%)
WTL 2.19 Decreased By ▼ -0.01 (-0.45%)
BR100 4,582 Decreased By ▼ -89.61 (-1.92%)
BR30 18,325 Decreased By ▼ -509.07 (-2.7%)
KSE100 44,592 Decreased By ▼ -776.9 (-1.71%)
KSE30 17,240 Decreased By ▼ -335.95 (-1.91%)

Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,745
824hr
Pakistan Cases
1,285,631
37724hr
0.85% positivity
Sindh
476,017
Punjab
443,240
Balochistan
33,488
Islamabad
107,765
KPK
180,146

ISLAMABAD: The government has received a loan of $76.28 million from the Republic of Korea for establishment of the Information Technology Park project in Islamabad.

The Ministry of Information Technology and Telecommunication has confirmed that the government of Pakistan has received a loan of $76.28 million from the Export-Import Bank of Korea from the resources of the Economic Development Cooperation Fund (EDCF) of the Republic of Korea toward the cost of the establishment of the IT Park Project, Islamabad, and intends to apply a portion of the proceeds of this loan to payments under the contract for the establishment of the IT Park Project.

The ministry has stated that the terms and conditions of the contract and payments by the bank, will be subject in all respects to the terms and conditions of the loan agreement, including the guidelines for the procurement under the EDCF loan (the guidelines).

Except the bank may specially otherwise agree, no party other than the borrower will derive any rights from the loan agreement or have any claim to the loan proceeds.

The Ministry of Information Technology and Telecom, which is the Project Executing Agency (PEA) has invited bids from eligible bidders for the construction of (IT Park Islamabad) Technology Park, Islamabad with supplying, installation and commissioning of the ICT infrastructure and security equipment.

The works and procurement to be performed in this project are as below: construction of IT Park building - 10 stories above ground and two basements building with a gross floor area of 66,893.643 m2; offices, share rooms (conference rooms, data centers, and etc), amenities, backup power, and parking area? Implementation of ICT infrastructure and security system and commissioning - ICT infrastructure: building network, data center tier-iii, mis, Wi-Fi, pa system, video conference system, etc - security system: fence security, human and vehicle control system, CCTV, etc.

The estimated works and procurement period is 30 months. Bidding will be conducted through competitive bidding procedure specified in the guideline for procurement under the EDCF loans. The Islamabad IT project is expected to provide over 5,000 direct and indirect employment opportunities during construction phase and about 15,000 employment opportunities to IT experts, students, and persons concerning industry after its completion.

Copyright Business Recorder, 2021

We love hearing your feedback, please help us improve by answering these few survey questions

Comments

Comments are closed.