Important resource: Gwadar Port, a necessity for region

ISLAMABAD: The region needs Gwadar Port, as it will help save significant shipment time and billions of dollars in freight charges — this was echoed by top government officials and industry experts at a one-day conference in Dubai. Addressing the ‘Investing in Gwadar’ conference, they emphasised that it’s not just a port, it is a global necessity. Future global shipping chain will not be completed without Gwadar port, they claimed, and added that the potential is tremendous and a lot of opportunities as well, Khaleej Times reported Thursday. The conference was organised by the Academy and Finance. The first phase of the port was constructed quickly by the China Harbour Engineering Company (CHEC) and completed by the end of 2005. The port operations contract was then awarded, after international bidding, to PSA Gwadar and then ‘Concessional Rights’ were finally transferred to China Overseas Port Holding Company in 2013.

Published in The Express Tribune, March  27^th,  2015.

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