Pakistan signs 40-year deal with China for Gwadar port operation
Minister said under the agreement, China would carry out all development work on the port
A general view of Gwadar deep-sea port on the Arabian Sea. PHOTO: REUTERS
ISLAMABAD:
Minister of Ports and Shipping Mir Hasil Khan Bizenjo on Thursday apprised the Senate that Pakistan had signed a 40-year agreement with China for the operation of Gwadar port.
During the question and answer session, the minister said under the agreement, China would carry out all development work on the port.
Gwadar steals attention as real estate market fluctuates
“As per the concession agreement, China Overseas Port Holding Company has a 91% share in the gross revenue of terminal and marine operations and 85% share in gross revenue from operations of the free zone,” he said. “Provinces have no share in revenue collection as per the current constitution.”
Meanwhile, Minister for National Food Security and Research Sikandar Hayat Khan Bosan said Rs1,500 million had been allocated under the Public Sector Development Programme for fiscal year 2015-16.
Published in The Express Tribune, April 21st, 2017.
Minister of Ports and Shipping Mir Hasil Khan Bizenjo on Thursday apprised the Senate that Pakistan had signed a 40-year agreement with China for the operation of Gwadar port.
During the question and answer session, the minister said under the agreement, China would carry out all development work on the port.
Gwadar steals attention as real estate market fluctuates
“As per the concession agreement, China Overseas Port Holding Company has a 91% share in the gross revenue of terminal and marine operations and 85% share in gross revenue from operations of the free zone,” he said. “Provinces have no share in revenue collection as per the current constitution.”
Meanwhile, Minister for National Food Security and Research Sikandar Hayat Khan Bosan said Rs1,500 million had been allocated under the Public Sector Development Programme for fiscal year 2015-16.
Published in The Express Tribune, April 21st, 2017.