The trend of data automation has taken the world by a storm with technology bridging the gap between growing needs of the market and soaring demand. Punjab government is all set for a mega project worth USD 1 billion by the name of Knowledge Park Lahore. This project will facilitate local businesses to make their contribution by setting the stage for the upcoming industrial revolution.
The biggest need of the project is to enhance opportunities for Pakistani youth that will eventually be placed in the manufacturing sector and boost its performance and productivity. Industrial revolution is primarily the trend of automation and data exchange in the field of manufacturing technologies. Increasing technologies such as cyber physical systems, cloud computing and the internet of things. These technologies will spark new life in manufacturing processes and will revamp the standard working procedures.
Knowledge village will aid in building a strong connection between the industry and academic research. This project aims to explore new avenues of research that match the requirements of the industry. It also anticipates to augment the concept of ‘Smart Factory’ along with embracing the philosophy of industrial revolution.
The project was fortunate enough to receive a piece of land free of cost located adjacent to DHA spanning across 850 acres. It has been allocated by Punjab government to bolster technology related research. The total cost of the project is hovering around PKR 100 billion whereas PKR 8 billion has already been allocated from the current fiscal year budget 2016-17 to start the initial work of the project. The project is spread on a long term basis of 25 years having multiple top of the line universities, schools, science and innovation centers, entertainment avenues, business centers and residential areas. This project is emphasizing on Eco friendly parameters with many green areas.
Chairman and CEO of Knowledge Park, Shahid Zaman, while talking about the project stated that:
“Our aim is to make Punjab the hub of the knowledge economy, not only for Pakistan but for the entire region. The disruptions caused by new innovations are eroding the competitiveness of our economy. We have established few quality information technology institutions to remove some knowledge deficit but this is not enough. We need to facilitate similar or better institutions for life sciences, biotechnology, design and creative industry and of course more information technology and computer sciences institutes”
Looking at the future of this project, it is anticipated that the project will spark a lot of interest from the private sector due to its prime location in the city. Large investments are gathered along with many sponsorships as the potential of this project is extremely promising.
Most of the board members of Lahore Knowledge Village are from private sector and they plan to construct their offices on this site. Many private sector organizations are planning to take advantage of this prime location and also state of the art research. The CEO of the project is avoiding any kind of over commercialization of this project and due to this reason they have rejected many offers to finance the entire project. Another reason for this decision is to maintain focus and to avoid any misdirection of the project.
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