As part of the China-Pakistan Economic Corridor, and by extension, that of the Silk Route Initiative, Gwadar holds pivotal importance. The port city of Gwadar is a hub of connectivity for the Corridor, and an indispensable interchange for the Silk Route. Through its deep-sea port, Gwadar has helped China and Pakistan realize the goal of a 21st Century Maritime Silk Route, which will benefit not only China and Pakistan, but also Central Asia by becoming the region’s key entry port.
The China-Pakistan Economic Corridor, however, plans not to limit Gwadar to a connecting port only, but enriches it as an economic hub that will cater to the local population by improving their livelihoods. Projects planned for the Gwadar Port City aim at capacitating Baluchistan to its full economic, social, technical, and energy potential, and closely integrating it within the economic framework of Pakistan and China.
The Pakistan port of Gwadar is seen as a guarantor of future development and prosperity and is the Prime Minister’s main priority in government, personally directing it to ensure the early completion. Accelerating the activity at the Ministry of Maritime Affairs, the Prime Minister said that inter-ministerial liaison and standard discussion with all the stakeholders would enable faster implementation of all ongoing and future projects under the ministry. He further included that other than setting effective priorities for the completion of these projects, their construction timelines should also be fixed.
Prime Minister Khan guided the Ministry of Maritime Affairs to organize projects that would create further employment opportunities, regional development, and produce full benefits. Minister for Maritime Affairs Syed Ali Haider Zaidi while giving a detailed briefing to the meeting on different initiatives concerning the performance of the ministry in the last 22 months said that despite the problems and difficulties inherited, numerous new initiatives were taken.
Viewing the potential of the ‘Blue Economy’, Khan’s government is accelerating the implementation of the road map for the development of this area which will create opportunities not only for investment but also for employment, travel industry, and clean renewable energy.
Gwadar will help Pakistan to observe the ocean Lines of Communications (SLOCs) originating from the gulf and therefore the Strait of Hormuz. Gwadar will able to control the oil sea routes and trade links among regions like South Asia, Africa, Central Asia, Gulf and geographic area. it'll provide strategic leverage to Pakistan vis-à-vis India, because the port is much from Indian reach as compared to other two Pakistani ports. Gwadar will increase job opportunities for Pakistani people and help in economic development through transit trade fee and exchange reserves. Gwadar will intensify cooperation of Pakistan with other countries in oil and energy sector. Tourism, trade, hotel industry and state revenue will increase which can strengthen economy of the country. Gwadar offers tax-free investment and trade, thus attracting sizable amount of foreign investors to open new development projects and economic plans.
Wednesday 16 September 2020
Investement in Gwadar,
China Pakistan Economic Corridor,