Syed Ali Shah:
QUETTA: Chief Minister Balochistan Mir Abdul Qudous Bizenjo approved a summary giving a special economic district status to Gwadar, the country’s port city. The Chief Minister approved the summary of the Planning and Development Department, government of Balochistan in this regard.
The objective of this initiative is the development of Gwadar city and promotion of port related activities. Establishment of special economic district (SED) is essential for tourism and other service sectors, sources in the Balochistan Planning and Development Department said.
SED status to boost trade activities in the port city
After the establishment of SED, trade, tourism, real estate and hoteling sectors will be boosted to the best level of competition, they mentioned.
The proposal for Gwadar as a Special Economic District (SED) aims to introduce vocational policies. SED will provide an investor-friendly environment for foreign investment in the port city of Gwadar, the P&D Department sources stated.
Investors to be fully supported and protected: CM Balochistan
The sources stated that incentives for exemptions on federal and provincial taxes for industrial activities and concessions in visa policy for investors.
With this initiative of the Chief Minister, subsidy will be provided to the investors in Gwadar.
This decision on behalf of the Balochistan government has come after massive development activities currently underway in Gwadar to make the China Pakistan Economic Corridor a success.
Gwadar deep sea port has opened new vistas of development and prosperity in the region. It has so far provided jobs to thousands of youth from Balochistan and other parts of the country.
