Gwadar declared tax-free zone to woo investors

QUETTA – Balochistan government has declared the port city of Gwadar a tax-free zone, as industries in the economic zone get exemptions from services and excise taxes.

Gwadar is located near the Strait of Hormuz and Arabian Sea, which makes it an immense economic and geopolitical significant region and Pakistan continued to transform Gwadar into a major trade hub and an energy corridor, connecting China's western regions to the Arabian Sea.

Baloch leaders and industrialists hailed the government’s recent step, and called on authorities to provide relief in federal taxes.

Senator Kauda Babar commended the government’s move to declare Gwadar a tax-free zone, which according to him will revitalise the true spirit of the flagship CPEC project, boosting activity at the Gwadar port and attracting further investment.

Further establishment of industries in Balochistan city would create job opportunities for Pakistani youth and will bring foreign exchange into cash strapped country.

The development of industrial and special economic zones in the port city is poised to woo foreign investment and promote industrial growth while construction is underway which will improve its connectivity and facilitate the movement of goods and people.