Top Stories NUST signs agreement with Multinational consortium led by ICA

NUST signs agreement with Multinational consortium led by ICA

NUST signed an agreement with a multinational consortium led by International Consulting Associates (ICA) for the development and expansion of National Science & Technology Park (NSTP), Pakistan’s first STP, at NUST Islamabad campus, at an auspicious ceremony on Wednesday.

The Transaction Advisory Services agreement between NUST and the multinational consortium led by iConsult, will augment NUST’s plans to develop NSTP by constructing eight towers in four phases over the next 10-12 years on Public-Private Partnership (P3) basis, over close to 60 acres of land at its H-12 Campus, Islamabad. Special Economic Zone status – availing income tax and import duty exemptions for 10 years – has already been conferred on the project to provide incentive support by the government.

Taking place at Tech Sanctum – NSTP auditorium, the ceremony was graced by the presence of Mr Shibli Faraz (Federal Minister for Science & Technology) as chief guest. Prominent amongst others present at the occasion were Engr Javed Mahmood Bukhari (Rector NUST) Mr Shahid Ahmad Khan (Senior Partner International Consulting Associates) Mr Ahmer Bilal Sufi (Senior Managing Partner ABS & Co) and Mr Farid Alam (CEO AKD Securities Ltd), among other notable dignitaries from NUST and the industrial community.

In December 2019, NUST established NSTP with a mandate to serve as an internationally proven vehicle for the promotion of science, technology and innovation by facilitating cooperation amongst research centres, industry, communities and government to create stronger knowledge-based activity in Pakistan’s economy. The pilot building is already home to a mix of anchor tenants, hi-tech SMEs and startups doing cutting edge research and innovation in select thematic verticals of national and international significance.