KARACHI: China Overseas Port Holding Company (COPHC) Chairman Zhang Baozhong has said that Gwadar Port holds immense potential for industrial investment in view of the opportunities offered through the establishment of deep sea port, capable to accommodate large vessels of up to 70,000 Deadweight Tonnage (DWT).
Exchanging views during his visit to Karachi Chamber of Commerce and Industry (KCCI), he said that the Makran Coastal Highway (N-20) has been completed, which substantially reduced the distance between Karachi and Gwadar. Upon completion of Gwadar Port, it will be a gateway and hub of world businesses and trades by catering to all types of international commercial activities, he added.
China Overseas Port Holding Company COO and Gwadar International Terminal Limited CEO Captain Xiaolong Dai, Businessmen Group Chairman and KCCI former president Anjum Nisar, Senior Vice President Zia Ahmed Khan, Vice President Muhammad Naeem Sharif, former presidents Khalid Firoz and Iftikhar Ahmed Vohra along with members of KCCI Managing Committee were also present at the meeting.
Zhang stated that COPHC was granted a 40 years concession in 2013 to manage and operate the Gwadar Port and Gwadar Free Zone and it has been the objective of COPHC to develop the region’s most strategically well located port with state-of-the-art facilities.
He said that mostly the local workforce and contractors have been engaged in carrying out the development work Gwadar Port and they were doing an excellent job in developing the port.
Zhang further informed that the largest free zone of more than 9,68,000sqm with Bonded Warehousing, Manufacturing, International Purchasing, Transit and Distribution Transshipment, commodity display and supporting services was being established in which federal, provincial and local taxes are exempted as COPHC enjoys a tax holiday of 20 years, making it an attractive port for marine trade.
He said that COPHC also intends to organize an International Fair every year in Gwadar which will be organized jointly by the governments of Pakistan and China to highlight the potential of this important port which will become the Distribution Center for Middle East Market. He also invited the business community of Karachi Chamber to visit Gwadar Port in order to personally take a good look at the development work at the Port which was underway to establish state-of-the-art Port of International standards.
Businessmen Group Vice Chairman Anjum Nisar, in his remarks, said that the Gwadar Port will prove to be a game-changer for Pakistan and it will certainly change the destiny of this country.
Development of Gwadar Port is likely to make Pakistan the economic hub of the entire region and it will help in effectively dealing with some of the challenges being faced by the country, particularly the poverty alleviation by creating hundreds of employment opportunities for the local inhabitants.
He was of the view that Chinese Overseas Port Holding Company plans to establish the deepest berth of 20 meters which means that some of the largest vessels and super ships will be berthed at Gwadar Port, bringing more prosperity not only for Pakistan but also for the entire region.
Earlier, while welcoming the guests, KCCI Senior Vice President Zia Ahmed Khan stated that sea ports in any country around the world play an important role but, unfortunately, ports in Pakistan were lagging behind in terms of efficient use of available facilities, reliability in the handling of freight and contribution to sustainable transport system.
Appreciating the Chinese investment at Gwadar Port and China Pakistan Economic Corridor, he said that completion of both these projects was likely to bring prosperity not only to Pakistan but also to the entire region.
He said, “We are also fairly optimistic that keeping in view the Chinese expertise, Pakistan is going to get a world class sea port at Gwadar which will be fully equipped with state-of-art technology and facilities.”
“If Gwadar Port is equipped with latest facilities being used globally and special attention is given to speedy clearance and shipment of goods, it will surely become the ‘Port of Choice’ for the business and industrial community of Pakistan,” he added.
