Economic gateway: Gwadar as Special Economic Zone
The port is partially functional and is receiving ships carrying government cargo
ISLAMABAD:
Gwadar will be declared a Special Economic Zone (SEZ) for a period of 20 to 30 years to facilitate commercial and economic development. The port draws 9% of the gross income from marine and port operations and the development of an economic zone would increase its revenues. Moreover, under the Pakistan-China Economic Corridor Programme, the Gwadar Port City will act as a gateway. The port was completed in 2006 at a total cost of $288 million and, in 2007, port operations were handed over to a subsidiary of Port of Singapore Authority. The port is partially functional and is receiving ships carrying government cargo while the new port operator, China Overseas Ports Holding Company Limited, has started work on an operational plan.
Published in The Express Tribune, January 22nd, 2015.
Gwadar will be declared a Special Economic Zone (SEZ) for a period of 20 to 30 years to facilitate commercial and economic development. The port draws 9% of the gross income from marine and port operations and the development of an economic zone would increase its revenues. Moreover, under the Pakistan-China Economic Corridor Programme, the Gwadar Port City will act as a gateway. The port was completed in 2006 at a total cost of $288 million and, in 2007, port operations were handed over to a subsidiary of Port of Singapore Authority. The port is partially functional and is receiving ships carrying government cargo while the new port operator, China Overseas Ports Holding Company Limited, has started work on an operational plan.
Published in The Express Tribune, January 22nd, 2015.