Business

GAWADAR (Web Desk) – A meeting of National Assembly Standing Committee on Ports and Shipping chaired by Syed Ghulam Mustafa Shah was held in Islamabad.


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The Committee was informed that the first phase of Gwadar port with three multipurpose berths having a total quay length of 602 meters was now fully operational.

Sources said that the second phase is longer and mainly includes the development of port-related infrastructure projects, which cannot be carried out without the active support and participation of the private sector.

There is a need to mobilize the private sector by announcing attractive incentives and improving the security situation in Balochistan.

Minister for Defence Production Tanveer Hussain said other phases of the Gwadar port project would be functional by next year.

As a future trading hub in the region, Islamabad has already extended tax exemptions and tax holidays at the industrial zones and duty-free economic zones in Gwadar.