Pak to handover Gwadar Port

Islamabad: The government on Tuesday approved the handing over of the multi-billion dollars Gwadar port operations to Singapore Port Authority (SPA).


The approval was given by Prime Minister Shaukat Aziz while at a meeting of Policy Board on development of Gwadar port following the recommendations of Gwadar Port Implementation Authority (GPIA) and a special committee constituted to negotiate the agreement for operations of the port.


Balochistan Chief Minister Muhammad Yousaf, Defence Minister Sikandar Iqbal, Ports and Shipping Minister Babar Ghauri, Industries Minister Jehangir Tareen, Petroleum and Natural Resources Minister Amanullah Jadoon, Advisor to Prime Minister on Finance Dr Salman Shah and other senior officials attended the meeting.


The Prime Minister also gave approval to the master plan and business strategy to develop Gwadar as a port and industrial city. The meeting was given detailed briefing by Secretary, Ports and Shipping, Naheed Haider, who said that Gwadar port would be operationalised by the end of next March.


Furthermore, the meeting was informed that SPA, under the agreement, would invest $550 million for improvement of Gwadar Port, besides building additional berths. The Prime Minister said that Gwadar has the potential to become a regional maritime hub because of its geo-strategic location.


Gwadar port, he said, would emerge as national gateway and it would be a major port of the region to cater the needs of Pakistan and Central Asian States. He said that the 14.5 metres deep draft of the port would be able to attract up to 'Fifth Generation' ships, including Panamax and mother vessels. In addition to the location of Gwadar and the depth of the channel, low operations cost would provide competitive advantage to the Gwadar Port, he added.


For many reasons, the inauguration of the country's biggest seaport, that lies at the heart of President General Pervez Musharraf's vision of prosperity, has been rescheduled.


The Prime Minister said that the government had fulfilled another commitment with the people of Balochistan by completing the Gwadar port. The operationalisation of Gwadar port would usher in a new era of development and prosperity for the people of Balochistan, he remarked, and added that it would generate economic activity and a significant number of jobs.


He said he believed that free zones, which would be set up along the port, would contribute to the harnessing of Balochistan's potential in natural resources a nd development of heavy and large-scale industries, petrochemicals and manufacturing.


The Singapore Port Authority has vast experience in handling big ports, world-wide, and is fully capable to get good business for Pakistan by making the Gwadar port an attraction for big shipping lines.


The multi-billion dollars project is seen as a catalyst to give boost to the country's economy and it would serve as a centre for different corridors to help Pakistan meet its growing demand in various key areas and provide the shortest and viable route to the entire region for supply of energy and quick transportation of goods.