Pak-China Science, Technology, Commerce and Logistic Park will be established in Islamabad at a cost of $1.5 billion. The site will be finalized by April 2016, construction will begin in March 2017 and be completed in 10 years over three phases. The project estimates an increase of 1500 jobs for Pakistanis. With the country struggling in the area of research and innovation, next year’s budget also holds promise for an increase in the Science and Technology budget.
The setup is to be part of the China-Pakistan Economic Corridor which will help serve as a platform for technological and commercial linkages between the two countries. The establishment also hopes to promote investment and financing, e-commerce and research and development.
The China Pakistan Economic Corridor (CPEC) is a collection of projects currently under construction at a cost of $46 billion which are intended to upgrade and expand Pakistani infrastructure. You can read more about the CPEC here.