KARACHI - China Overseas Port Holding Company (COPHC) Chairman Zhang Baozhong has said the Gawadar Port holds immense potential for the industrial investment in view of the opportunities offered through the establishment of deep seaport, capable of accommodating large vessels of up to 70,000 Deadweight Tonnage (DWT).
Exchanging views with the business community during his visit to the Karachi Chamber of Commerce on Wednesday, he said the completion of Makran Coastal Highway (N-20) had substantially reduced the distance between Karachi and Gawadar. “On completion, the Gawadar Port will be a hub of world businesses and trade since all types of international commercial activities will take place here,” he added. Zhang said the COPHC had been granted a 40-year concession in 2013 to manage and operate the Gawadar Port and Gawadar Free Zone, and it was the objective of COPHC to develop the region’s most strategically well-located port through state-of-the-art facilities.
COPHC chairman said that mostly the local workforce and contractors had been engaged in work on the project. “They are doing an excellent job in developing the port,” he added.
He further informed that the largest free zone of more than 9,68,000 square kilometers, with bonded warehousing, manufacturing, international purchasing, transit and distribution transshipment, commodity display and supporting services, was being established in which federal, provincial and local taxpayers would be exempted, as COPHC enjoys a tax holiday of 20 years, making it an attractive port for the marine trade.
Zhang said that COPHC also intended to organise an international fair every year in Gawadar, which would be organised jointly by the governments of Pakistan and China to highlight the potential of this important port, which, he said, would turn into a distribution center for the Middle East market. He also invited the business community of Karachi to visit the port in order to have a good look at the development work going on there.
KCCI former president and Businessmen Group Vice Chairman Anjum Nisar, in his remarks, said the Gawadar Port would prove to be a game-changer for Pakistan that would certainly change destiny of the country. “Development of this port is likely to make Pakistan the economic hub of the entire region, and would help it in effectively dealing with some of the challenges, particularly poverty alleviation by creating hundreds of employment opportunities for the local inhabitants,” Anjum elaborated.
He was of the view that COPHC planned to establish the deepest berth of 20 meters, which means that some of the largest vessels and super ships would be berthed at the Gawadar Port.
Earlier, welcoming the guests, KCCI Senior Vice President Zia Ahmed Khan said that sea ports, around the world, played 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 a sustainable transport system. Appreciating the Chinese investment in the Gawadar 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.
“If Gawadar Port is equipped with latest facilities being used globally and special attention is given to a speedy clearance and shipment of goods, it will surely become the ‘Port of Choice’ for the business and industrial community of Pakistan,” he predicted. COPHC CEO of Gawadar International Terminal Limited Capt Xiaolong Dai and others were also present on the occasion.