The first-ever software technology park set up in Swat under a public-private partnership (PPP) has become operational, with companies taking up office space in the 17950 square feet facility.
According to Pakistan Software Export Board (PSEB) officials, the park – set up in collaboration with Vertex Tower – can accommodate eight to ten companies, with two companies already shifted in.
The PSEB 25 STPs project will offer companies space at the rate of Rs. 50 per square foot. IT companies will receive a 25% rental subsidy and one-year free internet facility if they apply for the project. The Software Technology Park in Swat will benefit youth in remote areas including Mingora, Char Bagh, Bahrain, Shangla and others. Once fully operational, the park will provide employment to more than 300 people.
The launch of the Software Technology Park in Mingora promises to bring a number of benefits to the local area. Cheaper IT resources will be able to work closer to home, and large companies will be able to set up site offices and reduce their costs. The park will also help to update the infrastructure, as telecom and internet providers will have to improve their infrastructure due to increasing local needs.