Importance of Gwadar Port for Pakistan
SIGNIFICANCE OF GWADAR PORT FOR PAKISTAN
Selection of Gwadar for development of Deep Sea Port. While executing feasibility analyze for progress Gwadar port both Karachi and Bin Qasim were also considered for such advancement but discovered not appealing to major shipping and delivery agencies because of remoteness by main shipping and delivery routes, limitations of draft and relatively long turn around time. As a result of these reasons Gwadar was selected since the site intended for 3rd commercial port intended for Pakistan.
Gwadar port is located about 267 NM Western world of Karachi. Because of its great location on the mouth of gulf and opposite ideal choke parts of Strait of Hormuz and Gulf of Oman the port is visualized to become a regional link serving newly arriving and away going commercial traffic of Middle East and Gulf of mexico countries. The modern port of Gwadar can supplement Karachi Port and Port Qasim. It will attract transit and trans-shipment control from over twenty countries including Srilanka, Bangladesh, Oman, UAE, Arab saudi, Qatar, War and Iran. These countries may open up their facilities in Gwadar for foreign trade of goods and storing of imported items for later transport to their countries. Non Quantifiable Benefits of Port. Details of roundabout non quantifiable benefits that this people of region are certain to get and will accrue to the national overall economy from this port. Duty Free Port & Free Financial Zone/Incentives. Keeping in view the value of Gwadar port, the government has reported Gwadar as being a Duty Totally free Port and Free Economic Zone. A different allocation of just one billion rupees was made in the budget for the fiscal 12 months 2004-2005 pertaining to the construction with the export zone and Gwadar industrial town. This has significantly accelerated the pace of development inside the area. The other bonuses announced by simply Govt are summarized because under: Great approach to private sector involvement.
Infrastructure development upon BOT/BOO basis.