Pakistan has two main ports working internationally, Karachi port and port Qasim. But keeping in view the expected growth in demand these ports won’t be able to keep pace with it, resulting in a need for a third port to fill the gap. In particular, Karachi port has some physical limitation, these restrictions result mainly from its location. In case of Qasim port, although having a large physical space for expansion, its possible speed of development is hindered by its up-stream location which is why they are unable to meet the expected rise in demand.
Gwadar Port:
Gwadar is located on the shores of the Arabian Sea in the western province of Balochistan. It is about 533 km from Karachi and 120 km from the Iranian border. Gwadar Port is located at the mouth of the Persian Gulf, just outside the Straits of Hormuz, near the key shipping routes in and out of the Persian Gulf. Gwadar port has a strategic and economic importance for Pakistan.
Why invest in Gwadar:
Senate Chairman Sadiq Sanjrani has stated that Gwadar was emerging as a new port city of Pakistan which was destined to become the hub of industrial and investment activities.
“Therefore, the business community should gear up itself to fully capitalise on the emerging opportunities for business and investment in Gwadar and Baluchistan,” he added while talking to a delegation of Islamabad Chamber of Commerce & Industry (ICCI), led by its President Muhammad Ahmed Waheed, on Wednesday. MNA and former FPCCI vice president Sajida Zulfiqar, ICCI Vice President Saifur Rehman Khan and former senior vice president Malik Sohail Hussain were also there on the occasion.
Sanjrani stated that the business community is the backbone of the economy and its problems and challenges should be discussed on a priority basis. “The way the local business community has fought back against the impact of Covid-19 is appreciable… it shows its resilience to survive tough conditions.”
Gwadar is being evolved and converted in alignment with the CPEC initiative and has acquired the most interest at some stage in the making plans with the aid of using bringing together professional expertise and experience throughout the globe. Hence Gwadar is destined to emerge as well-planned, maximum technology enabled and maximum effectively available metropolis of the region. So much so that the ROI of any type of investment here absolutely tickles the creativeness of even the maximum forerunning traders and businessmen.
Back in April of this year, talking on the event ‘Dialogue on Industrial Cooperation under CPEC and SEZs Framework’, organized with the aid the Board of Investment, Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood commented that Gwadar will carry widespread export boom for Pakistan.
Mr Dawood said that a approach have been evolved related to all predominant SEZs (Special Economic Zones) to enhance potential and additionally how they'll appeal to new enterprise startups. Despite a couple of demanding situations of the year, Pakistan has controlled to put up a 13.6% boom in exports way to projects together with Gwadar. This changed into manifestly a statistic that thrilled the Pakistani government.
The goal of Special Economic Zones under CPEC, Dawood defined in addition that the SEZs are welcomed for all critical businesspeople and investors, irrespective of what nationality they arrive from.
The equal possibility to spend money on a rewarding spot inside a SEZ is available to anyone. Gwadar has been inundated with investments from diverse sectors and is already seeing the tempo of investment quicken submit pandemic.
