In a bid to create synergy between the academia and corporate world, the Punjab government has envisaged a Knowledge Park in the provincial capital, Pakistan Today has learnt.
Towards this end, the government has dedicated an area of 852 acres in a city’s prime location where the plan is to create clusters of related academic and industry sectors especially in information communication technology (ICT), business management and science and technology among others. The government also plans to take best known names in local and international education sectors and corporate industry and set it up in the knowledge park.
Pakistan is a rapidly developing market with a large urban youth population and an ever-growing middle class well suited for the international market. The knowledge park will utilise the existing assets and move towards a knowledge-based economy.
Lahore’s knowledge park will maintain a space for collaboration between academia, R&D and industry. The first cluster to be launched will be in the field of information communication technology followed by business and management clusters.
The park is envisaged on a public-private partnership model, with ownership and operations resting with a not-for-profit company, headed by a board of directors consisting of eminent public and private sector members.
As many as 80 percent of the land will be reserved for the core activity of the park, while the rest will be used for generating the necessary revenue stream.
In this regard, primary partnership with key stakeholders namely the British Council, the universities of Scotland, Scotland SQA, Australian Trade Commission, LUMS and various other UK universities has been established.
The chief minister has approved the concept previous year and now the feasibility study is being done through the international and local consultants. This would be looking at developing the overall concept and business model including the financial modelling, industry and sector study and potential partnership between local and international universities.
Higher Education Department (HED) Additional Secretary Planning Shahid Zaman Khan said the concept has been designed to meet the upcoming needs of a growing population and bringing it at par with the international standards.
“Currently the project is on the stage of feasibility study, which will take around six months which will determine the time it will take for its completion. The cost of the project is Rs 5billion and will yield long term benefits,” Zaman added.
“It is considered as a new concept in economic development. China, USA, Europe, Iran and India also have these parks. However, it is our first one. It will bring foreign companies and corporate names as Microsoft and other IT giants,” Zaman said.
