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In June 2000, Pakistan Air Force (PAF) and Pakistan Educational Foundation (PEF) agreed to collaborate for the establishment of a high-quality educational institution at PAF, Korangi Creek Base. The objective of this institution is to contribute to the development of university level education in Pakistan.1997 - 2000Karachi Institute of Economics and Technology was launched in October 1997. Academic departments offering degrees in Management Science and Computer Science[ were established. Department of Management Science offered BBA and MBA degrees with specializations in the fields of Management, Marketing, and Finance. Department of Computer Science offered BCS, MCS and MS-IT degrees.2000 - 2003In September 2000, the Institute moved to its current location at PAF Korangi Creek. This campus is spread over 22 acres (0.09 km2). The systems, procedures, faculty, curriculum, library, labs and other facilities have expanded in a planned manner to accommodate the rapid growth of the Institute.The City Campus of KIET was established in April 2002 to provide evening programs for the working students. The City Campus is located off Shahrah-e-Faisal near Nursery.2003 - 2006The departments of Management Science and Computer Science were elevated to the status of Colleges. College of Computing & Information Sciences and College of Management Sciences started offering advanced research oriented degree programs of MS and PhD. Specialization in MIS, Finance and Accounting were added.Department of Corporate Relations and R&D Departments were launched.Two more academic colleges were established namely College of Engineering and College of Humanities and Sciences. College of Engineering offers 4-year BE in Electronics with specialization in Electronics and Telecommunication. The College of Humanities & Social Sciences offers courses in Mathematics, English, Oral and Written Communication and Social Sciences areas..