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Posted by admin in CPEC, Investments, Naval Anchorage on January 24th, 2019
ISLAMABAD: Foreign Secretary Tehmina Janjua on Wednesday said the China Pakistan Economic Corridor (CPEC) project was adding a strong dimension to the all-weather friendship ties between Pakistan and China.
She was speaking as a chief guest here at the launch of the China Pakistan study Center’s (CPSC) magazine PIVOT, organized by the Institute of Strategic Studies Islamabad (ISSI).
The Foreign Secretary said CPEC would play an important connecting role in the entire region and simultaneously it would bring peace to the entire region, according to an ISSI press release. She said was important to give a platform for the youth and promote people-to-people linkages. It was need of the hour to enable the young generation to carry forward the legacy of Pak-China friendship, she said and added that PIVOT was a quarterly magazine and its aim was to project Pakistan-China relations, developments in diverse spheres such as policy, economy, culture, tourism and people-to-people exchanges.
Janjua said the word ‘Pivot’ was reflective of the relationship between the two countries since China was the pivot of Pakistan‘s foreign policy and vice versa. She said the CPSC was fulfilling an essential requirement that was bringing the relationship to the forefront and congratulated the ISSI for reinvigorating the Center which she said was a highly important component of the Institute.
China is Pakistan‘s time tested a friend and the Pak-China friendship has few parallels in the international relations, she said, adding Pakistan wanted to give the world the message of peaceful development and it was working hard to pursue that objective.
CPSC Director Dr Talat Shabbir said Pakistan and China were strategic cooperative partners with their bilateral relationship standing the test of time and history.
The rise of China in the global context and its economic pre-eminence had propelled new dynamics for globalisation and the common good, he said.
Pakistan, he said, was fortunate to be playing an important role in connectivity and prosperity in the region. However, there was a need to promote a better understanding of the vision of the two countries, focusing on all-inclusive facets of Pakistan-China relations, he added.
He said the aim of the CPSC activities was to undertake pragmatic and meaningful research and advocacy to promote Pakistan-China relations in diverse spheres. In this regard, China-Pakistan Study Centre aspired to be a centre of excellence devoted to strengthening relations between the two countries. Chinese Ambassador Yao Jing congratulated the launching of the first issue of PIVOT, which, he said, was an excellent way to learn Pakistan‘s perception of the relationship of the two countries.
He talked about the ‘Pivot’ of the Chinese foreign policy, which is based on two principles: peaceful development which does not challenge international order and win-win cooperation based on dialogue and collaboration.
He said Pakistan figured at a pivotal position in the Chinese new diplomacy for peaceful development. It was a peace-loving country as it had always advocated for peaceful relations with not only its neighbors but with all the international community, he added.
Regarding cooperation of both countries, he said development was the key to dealing with all the challenges in the present order. That encompassed development of self as well as the development of the entire region, he said.
Posted by admin in CPEC, Investments, Naval Anchorage, Real Estate Development Company on January 24th, 2019
PESHAWAR: Chinese Ambassador to Pakistan, Yao Jing, visited Rashakai Special Economic Zone on Wednesday.
A statement issued here said that Ambassador Yao Jing visited on-site facilitation centre of Rashakai SEZ. He was accompanied by officials of the Economic Zones Development and Management Company (EZDMC) and China Road and Bridge Corporation (CRBC). He was given a briefing on the location plan, field studies and approach road of the zone.
Mr Yao appreciated the location and stressed on the importance of RSEZ in China-Pakistan Economic Corridor.
Earlier, a joint venture agreement between the EZDMC and CRBC to develop 1,000 acres Rashakai SEZ was signed by the company’s CEO Saeed Ahmed and senior management of CRBC in Beijing on Nov 2018.
It said that the SEZ would be a modern economic zone offering excellent infrastructure and amenities to the industrialists.
According to the agreement, CRBC will be responsible for marketing the zone locally and internationally.
As part of its marketing efforts, it is in advance stages of inviting local investors and Chinese large-scale manufacturers to invest in the zone.
Posted by admin in CPEC, Gwadar News, Investments on July 27th, 2018
Gwadar is a port city located on the southwestern coast of the Balochistan province of Pakistan. The city is located on the shore of Arabian Sea and is about 700Km away from Karachi. Located near the border of Iran the Gwadar city is located to the east of the Persian Gulf and right opposite to Oman.
Form the history, the Gwadar was a small to medium size setting with the economy mainly based on the artisanal fishing. The strategic value of Gwadar was initially appreciated in 1954 when it was identified as a suitable deep water seaport by the geological survey conducted by the United States of America. That survey was conducted on the request of Pakistan. At that time the Gwadar was under possession of Oman.
Despite having the idea of the value of Gwadar, its actual potential remained unveiled up till 2001. By the year 2001, initial construction of the Gwadar Port was initiated. With a net cost of $248 million, the first phase was inaugurated by General Pervez Musharraf.
After construction, the port remained under-utilized for a number of reasons including insufficient investment, security issues and the failure of the Pakistani Government to transfer land as per promised to the port of Singapore Authority (they were the port operators that time).
By the year 2015, China showed its intention of developing Gwadar port city with an investment of $46 billion under the name of CPEC (China- Pakistan Economic Corridor). China aimed to develop a One Belt- One Road with the idea to facilitate the trading activities using this road. The Gwadar is majorly featured in the CPEC project. It is also foreseen as a link between the Maritime Silk Road and the One-Belt, One Road project.
Almost $ 1.153 billion worth infrastructure is planned to be invested in the Gwadar city, apart from the major CPEC projects. The aim of this initiative is to link Western China with the Northern Pakistan to this deepwater seaport. The Gwadar city will also be a site for storing transported floating liquefied natural gas that will be a part of the Iran-Pakistan Gas Pipeline Project.
With the changing time, the sea politics is getting complex with the massive involvement of economic prosperity and commercial activities, on a global level. The Gwadar port holds huge economic and strategic significance for Pakistan and is the third important seaport of Pakistan after the Karachi and Qasim Port.
Being located at the cross junction of the international shipping and the oil trading routes, the Gwadar port has become of massive global advantage for all the economies of the world, including Pakistan. This is the reason why Gwadar is considered to be acting as a trade hub in Pakistan. with its direct link to three major regions of the globe stated as; South Asia, Middle East and Central Asia, the Gwadar port will be a new investment opportunity that will have a positive impact on therewith of Balochistan.
With Gwadar, Pakistan will be able to explore minerals, gas and oil resources and hydrocarbons etc. the port is also attracting a massive amount of tourist and foreign investors and can be seen serving as a foreign reserve and free trade zone. All these features will surely help and play role in the prosperity of Pakistan. It can also help to enhance the commercial and trade activities in the country.
At the same time, it is believed that the Gwadar will make Pakistan be a monitoring part of the Sea Line of Communications that comes from the Persian Gulf. With a strategic leveraging of investments and opportunities, the Gwadar will open up doors for new opportunities of the people of Pakistan and will help them in their economic growth and stability via Trans trading activities and foregone exchange reserves.
Gwadar is also believed to be boosting up the co-operation of Pakistan with other political establishments of the world in terms of energy and oil resources. At the same time the trade, hotel industry, and the state revenue sectors will have a positive impact. As the Gwadar is offering tax-free trade and investment opportunities, it is successfully attractive for foreign investors to open up and invest in pipeline projects and economic plans.
The Gwadar port has massive strategic importance and is increasing the importance and value of Pakistan in a global setting and specifically in the region. Through the Persian Gulf and the Indian Oceans and Southeast Asia, the Role of Pakistan is enhanced. With its close locality to the Strait of Hormuz, it will be a roadway to supply 13 million barrel oil on daily basis.
On its completion, the port is expected to open new vistas for development and cooperation in the region. The port is expected to offer facilities of transshipments, warehousing, coastal and transit trades, industrial as well as commercial facilities for international import-export trades. The above said are specifically referred to the Oman, UAE, Saudi Arabia, Iran, Iraq, China, Central Asian States, Qatar and other countries of the region.
The Gwadar port is also believed to offer a cost-effective, safe, secure and uninterrupted supply of natural energy. This uninterrupted supply will help all these countries to sustain and smooth industrial development and growth. With its geo-strategic position, Pakistan will bridge the transportation gaps and will offer a shortest possible route for the energy transportation. At that same time, it will offer a shortest possible route to the warm waters of the Arabian Sea.
With the partial technical and financial assistance of China, Pakistan has successfully completed the first phase of the deep-sea port in the Gwadar. The Gwadar port was initially inaugurated on the 20th of March 2007. A number of projects are already completed for about 50% and the rest of working is on the go. The Phase 2 of Gwadar will include; a major cargo terminal; a ro-ro terminal, two oil terminals and four container berths.
Decided as to up-grade the KKH as the upgraded road is believed to be providing a short route to the sea and will be superficially beneficial for the product manufacturers from China. The KKH is also believed to be serving as an overland route for trading between India and China. It will also facilitate Pakistan and China in terms of trade and energy improvement, development of the railway links, oil and gas pipeline linkage and the fibre-optic connectivity along the highway under one project.
Along the KKH a railway line is developed and will be connecting China and Pakistan and is considered as a vital part of the energy and trade corridor. The aim of this railway web is to facilitate the trade activities as well as transport energy in case other means are not operational for any reason. This rail track will be linked to Gwadar as Gwadar will be carrying the oil-refining as well as storage facilities.
The framework of the agreement on the energy cooperation was initiated back in 2006. According to this agreement, an energy pipeline of 30-inch diameter will be installed from Khunjerab to Gwadar. This pipeline will pass through Awaran, Pir Muhammad, Khuzdar, Shikarpur, D. I. Khan, Kundian, Mianwali, Talagang, Pindi Ghraib, Fateh Jang, Haripur, Mansehra, Patan, Dasu, Chilas, Bunjil, Gilgit, Sust, and Khunjerab pass.
Top on the list is that with Gwadar, Pakistan can fulfill its energy needs and it can also secure benefits including; enhancement of trades with middle east and Cars; relations with the regional and neighbor countries will be improved; trades will be enhances; TAPI and IPI pipeline projects may lead to neutralized relations with India. Pakistan can also earn massive foreign exchange through transit fees and thus can improve its fore exchange reserves. With Gwadar port, the backward areas of Pakistan will improve gradually but significantly. There will be improvements in the literacy rate and the living conditions of backward areas of Pakistan and a lot of new jobs will come up due to foreign and local investments in the area. With the improvement in the overall economy, there would be an improvement in the hotel and tourism industry as well.
It is amazing that a fishing village to yesterday is soon to become the hub of regional trade activities supplying Pakistan with the most needed support in all ways possible. The amazing significance of the Free Economic Trade Zone and the Gwadar Port is well known to the Government of Pakistan and is thus working on many different aspects of the idea to promote the value of Gwadar to international investors and to provide them will all what it takes to convince them of any kind of big or small industrial or residential investment. Expected is to have a brighter future as soon as the Gwadar Port is completely operational and playing in the field.
Posted by admin in Investments, Property News, Real Estate Development Company, Real Estate Property Guide on June 21st, 2018
Investing in the real estate sector of Pakistan has always considered as a striking opportunity, the reason for such appreciation is the attractive returns and fast-changing and upward going trends. This situation is same for the local as well as international investors. And this is the reason why both local and international real estate investors keep showing their interest in Pakistani property.
It is also noteworthy that real estate investment is something that offers a minimum level of risks. With the changing demographics and the inception of the idea of CPEC, the government of Pakistan is also looking forward to loosening the laws to encourage the overseas Pakistani investors. The core purpose of this thought is to provoke them and boost their interest in investing in Pakistan, by facilitating them with the better and easy to deal with opportunities. The government of Pakistan and the private investors has made it easier for the property investors to invest in property located in the major cities of Pakistan like Karachi, Lahore and Islamabad.
Read also: History Of Gwadar: Past, Present And Future
The investors now have reliable, attractive and developed real estate projects that can offer increased returns on investments depending on the volume of investment. Rather than relying on the suggestions of people, better is to take suggestions from the experts or the people who already have experience in investing in real estate sector of Pakistan. You may get connected with the real estate agents for digging out the available opportunities but going for a personal advice from any trusted person is also a must before making your final decision.
Just like any other part of the world, investing in Pakistan demands proper documentation, identification and above all, some time. But in every case, it will turn out to be a massive profit for you’re by end of the day. For overseas investors, the Government of Pakistan has settled some rules that are different than that of the rules and regulations for local real estate investors in Pakistan. At first, you need to register with the Overseas Pakistanis Foundation to be eligible to purchase a property in your name.
If you do not have any direct reference or link in your relation, that has the experience to deal with the property buying and selling in Pakistan, you need to look for a person with the ability to deal with the process. Even in the case, you have any direct reference you can give you a good advice, you need to have some professional assistance. For this reason, you need to find the right and authentic agent to help you in the process of finding a piece of land and dealing with the remaining process. Choose an agent after a rigorous screening. He will be responsible for offering your assistance from start till the end of the property buying process in Pakistan. You can do an online search for different agents who can help you in the process.
As mentioned before you need to carry proper documentation to get a property registered in your name. Here is the list of necessary documents that will be demanded during the process;
– A copy of current passport
– Six recent passport size pictures
– A copy of National Identity Card for Overseas Pakistanis
– Copy of entry stamp for residing foreign country
– Copy on exit stamp from Pakistan
– Passport size photographs and list of your family members
All these documents need to be attested and while submitting you need to submit the down payment for necessary processing for the property.
It’s obvious, taxes are involved but being a Pakistani overseas investor you need to pay 4% of the withholding tax when you are dealing with a property related transaction. Other taxes that you may need to pay include Capital Gain Tax also known as the CGT, the registration fee and the stamp duty charges. If you are taking help of a property agent you will be assisted with all the charges and the possible expenditures you may have to deal with.
You can find a number of online sources that can help you find the best schemes with the latest offers. As we have mentioned before that investment in Pakistan is an always growing trend for the Pakistani expatriates. Sooner or later the property will end up offering you better return on investment. At the same time, real estate investment comes with a minimum level of risks and the activities are well supported by the government policies.
However, important is to make the right decision and perform a detailed market research before buying any property. With the inception of the idea of CPEC, most of the real estate investors are focused on investing in Gwadar City and adjacent property offers. Apart from Gwadar, there are many other areas that can give you a better ROI in later years.
Lahore is one of the fastest developing cities of Pakistan and is facilitating the residents with all the necessary facilities. It is also a business and industrial hub with all the facilities which makes it a major attraction for the people from all over Pakistan. Alongside the Ring Road Lahore, there are many well-grown and growing Housing Societies that are a good idea for investment. At the same time, the sideline of Thokar Niaz Baig is offering a better approach to the city with the help of newly developed Metro Bus route and the upcoming Orange Train route to connect the business sections of the city with that of the adjacent residential areas.
Islamabad remains flooded with the overseas investors and the market seems to have a brighter future in coming years. It is considered as a safe deal for the foreign investors and thus comes with a tough competition. Just like Lahore the city is expanding and offering new projects like the residential area near the New Islamabad International Airport making it a prime location for real estate investment. Same is the case with the other half of the twin city, Rawalpindi.
Another major industrial hub of Pakistan and directly associated with Gwadar Port City, Karachi is one of the major attraction for the international real estate investors. The sea is also a major attraction for investors. Clifton Karachi has a number of things to attract the international investors with a comprehensive budget bracket. At the same time, there is Faizaia housing Scheme that is linked with the Motorway, making it another high-profile investment option. You can find apartments and bungalows in here, depending on your interest and preferences.
Read also: Real Estate Buying Mistakes Every Pakistani Should Know
Above all, whether it’s Islamabad, Lahore or Karachi, the Defense Housing Society and the Bharia Town have successfully established themselves as the incomparable and strong property brands. For most of the international investors, the two places come as the foremost option for investing in real estate. The marketing and the quality of services and life are unmatchable. They have remained consistent in providing the same standards of living, security and all that is necessary to live an uninterrupted and hassle-free life which makes them the first choice for the real estate investors in Pakistan.
Posted by admin in Investments, Naval Anchorage, Real Estate Property Guide on May 3rd, 2018
Investing in Gwadar is not simple and interesting as in any other part of Pakistan. There are a number of reasons to support this fact and one of the basic reasons that make the real estate investment in Gwadar a bit critical is that it has just started its journey. Although sprouting at the moment, the city is soon expected to be the leading international port city of Pakistan. Talking about the about all the potential the Gwadar port city project seems to be opening doors of amazing opportunities and filling up all the needs of international trading in Pakistan.
For all the said reasons the city seems to be transforming the infrastructure and giving a hope to many investors who are looking forward to earn some big amount in the coming years.
With all the potential, Gwadar port city is offering something that was never offered in Pakistan’s real estate market before. Thus we can see a number of potential challenges in this case as well. For this reason, we can clearly say that the Gwadar city investment is not same as of buying land in any other part of Pakistan. There is no such thing as earning quick gains.
According to the experts, the investors who are willing to invest in Gwadar must know that it will take many years to get what they are looking for or what they have been promised with. The process of earning ROI (return on investment) is a long-term deal. However, seeing occasional gains is another thing and is something that can be seen in many other projects in the pipeline. Also one cannot predict any specific pattern in this regard.
The experts also recommend that investors for Gwadar must not have any misconceptions or false assumptions about their investment duration in the port city or should not fall for any fake promises.Thus, investors who are buying lands for profits must not fall for fake and unreliable sources including agents and developers etc. Investing in open and bigger lands that are bound to increase their value is better than buying smaller pieces of land at higher rates. Here are some of the most common misconceptions about buying and selling real estate that is must to keep in mind while buying a land in the Gwadar.
The parts of the Port city, located far from the old town is not a preferred place for the buyers as there are no lands smallest than an acre in these areas. This is better when you have an open land owned by any local party and not by the government. The reason for this trend is the fact that the land owners have many acres of lands and from which only a part of the property lies on the road that are marked to become spacious and wide. These connecting roads are the real value of for the land owners.
In such cases, selling small pieces of lands is a bad idea and can earn limited or no benefits to the land owners. Selling smaller chunks facing the road will decrease the value of land that is a bit far from the roads and thus it can be a bad deal to sale the lands in smaller bits. For the said reason the buyers are left with no choice to sell bigger areas that, in some case is bigger than 50 acres.
However, if you are looking to buy a small piece of land in the Gwadar Port City, you must look for the areas that are a far from the main road. At times it has been found that the smaller lands are of expensive as compare to that of the bigger plots. Thus the choice is completely on your preferences for investment and your priorities.
As stated by the GDA (Gwadar Development Authority) the buyers’ need to verify their NOC issues for any specific project they are willing to invest it. This is of great importance as many of the land owners have sold their properties without having necessary approvals from the GDA.
While buying any open land, the buyers must also make sure that the land is available for resale. The GDA, in many parts of Gwadar, had banned the transfer of property. Thus the buyers must make sure that they are not scammed by paying for any such property.
The GDA recommends that when you are about to pay the token or advance money for the land you want to acquire, you must share the information in the newspaper or ask the GDA authorities if they have any issues with the land or not. Also, check if the land is available for sale/resale and authority transfer or not. Once you find that the land is safe for further proceeding, you can take an official with you and mark the land.
It is also recommended to the buyers to mark the area before closing the deal for buying this land. There are chances that during the process you find that the land is disputed. In any such case you must not proceed with paying the remaining amount until the matter is sorted out completely.
A most important ground reality is that no commercial or residential property in Gwadar is developing at a fast pace. The developers at Gwadar have no long-run plans or any clear time-frame for the completion of the projects. So if anyone says that the project will be executed and will be set to earn benefits in few years, they are probably lying. Even for a residential property buying, it is important to keep in mind that there would be need of a time frame of almost 5 years to complete the project. There can be some projects that would not be available for buyer’s complete possession even after 5 years. Thus important is to do a complete check and invest in the societies that are supported by reliable sources.
In a single line we can say that the decision depends on your priorities. It depends on your budget and you’re short as well as long run goals with this investment. However, here are some of the most appreciated investment areas that you may consider:
The Sanghar Housing Scheme is a fast, secure and well regulated society that comes with no legal complications. It is also a unique location of the Gwadar Port City. The scheme offers both residential and commercial plots that are a perfect choice for all kinds of mega projects like shopping malls and others.
The Naval Anchorage Gwadar is the best option for you if you are looking for a land approved by the Gwadar Development Authority, a gated community for your family settlement. The housing society is located right on the pinpoint of Rakshan Avenu and the Coastal Highway. The community is offered with a wide range of self-sustaining amenities for the residents and up to mark the health care facilities. You can also find a range of schools, colleges and universities to process your living in a better way.
The Airport Road Commercials is another perfect choice where the commercial activities are present even today. However there are some legal issues and minor irregularities in operations because of which it stands after the Sanghar Housing Scheme.
The Marine Drive Commercials is the next in the list of most preferred housing schemes. It will also be developing as a commercial hub soon after the airport. There is not any commercial activity at the location currently and there are some irregularities in the sale purchase process of land in this area.
The Jinnah Avenue Commercials and New Town Society are also reliable options with better profit opportunities in coming years. However, important is to visit the sites personally rather than just depending on the 3D images or any videos about the locations you are willing to invest it.
Working on ground realities can help the investors to make better decisions and make a deal that looks real. Investment in the Gwadar City is something that needs a lot of persistence and tolerance before it returns you amazing sum of benefits and earning opportunities. Remember, those who have the long run motive can earn the maximum reward.
Posted by admin in CPEC, Gwadar News, Investments, Naval Anchorage, Recent Development and construction in Gwadar on December 20th, 2017
Individuals beforehand totally neglected Gwadar land as a potential investment choice. However, the conditions have changed and the port city is presently the place with the most elevated venture potential. Named as a financial tax-exempt zone, the city is flourishing with business openings, employment opportunities and recently raised foundation. It is currently the home to probably the most eminent and prosperous worldwide organizations on the planet.
With such a large number of venture alternatives in the market and various components to consider, financial specialists are discovering the choice with the most noteworthy incentive for cash. Real estate investments have seen a boost in the last decade. The investments in the stocks and bonds still are on the higher side in Pakistan. Around the world, real estate is considered to be a sound investment, this trend will soon flourish in Pakistan as well.
With Gwadar coming into place, the real estate investment will flourish along with the economic and political advantages we see for it. Here are a couple of reasons that Gwadar ought to be considered as a sound investment:
The majority of the private and business extends in the city are recently built and gloat contemporary measures. Also, as the city is newly picking up force, it has far to go before it achieves immersion point.
Some critical business extends in the city incorporate Burj Al Gwadar, World Trade Tower, Gwadar Heights, and Gwadar Business Square. The city likewise contains private social orders, for example, UP.Rise Waterfront, Golden Palms, New Town, and others.
Gwadar is creating at a quick pace. Various crisp private and business ventures, essentially enhancing the way of life for occupants in the area. As the port city turns out to be more developed, the estimation of a property is likewise duplicating ten times with request, meaning huge speculation potential in the locale.
Advancement is probably going to proceed at the speed it is right now winning at, implying that financial specialists shouldn’t expect stagnation in the market at any point in the near future.
To increase the investments in the market, the government has given tax-free business opportunities and investments to the investors. In any case, as property in the territory is as of now not as costly as property in bigger urban communities, the effect of the recently forced property charges upon the realty segment is altogether not as much as that in different urban communities in the nation. Gwadar is currently sparkling with the most venture potential in the nation.
Being a speculation safe house and the brightest star in the nation, Gwadar is the best decision for the individuals who need to harvest prompt and fast returns!
Posted by admin in CPEC, Gwadar News, Investments, Real Estate Property Guide on October 23rd, 2017
Since years, Gwadar had been a crucial subject in the news and politics. Investment gurus, politicians and analysts have been in serious discussions on whether Gwadar deserves all the attention. Though China was always an ally in the Gwadar project and the project itself seems a game changer for Pakistan, there were many who were not in favor.
After all the noticeable efforts by the government and the investors, Gwadar project took a major step in 2016. The Gwadar port was inaugurated and so the investment opportunities were set free for domestic and commercial purposes.
Gwadar, apart from its scenic and breathtaking views, is a great investment opportunity for individual investors domestically or commercially. The strategic importance Gwadar port holds, is not hidden from us. Here is why one should consider investing in this growing project:
With development of motorways, the labor employment opportunities are already on rise. Once the development, constructions and transportation starts, the employment figure of Gwadar will rise. Gwadar port can be a major turning point for the economy of Pakistan as it would add thousands of jobs to the arena. It is believed to assist in settling the issues of poverty and terrorism. It will put a deadlock to unemployment in the region.
The foreign investors enjoyed a tax break of 23-year on all the investments in Gwadar. This was to encourage the foreigners to invest in the project. Now that Gwadar is all set to start and the investments from abroad are flourishing, the government of Balochistan is now awarding this opportunity to the locals as well.
The government has agreed to provide tax breaks to domestic investors in the industrial estate.
“Balochistan’s Chief Minister has assured us that he will declare it {the industrial estate) a free zone,” Waqas A Lasi, GM Finance of the Gwadar Industrial Estate Development Authority (GIEDA), said while briefing a group of journalists from Karachi.
These tax breaks will encourage the domestic investors to look forward towards the development of Gwadar and Pakistan and be part of the change. The more domestic investors will invest in Gwadar, the more economy will remain inside the country.
With increase in the number of investments in Gwadar, the Government of Balochistan is working on the development of an industrial estate. The objective of the estate is to meet the demands of the industrials plots in the city. With the establishment of the city and the motor highways, the potential for the industrial development will increase. The estate will help those industries to set up.
The industrial parks are being developed for the small and medium size enterprises and not for the large-scale industries. These parks will provide access to common man to set up small industries in the place. The areas of business on which these industrial parks wish to focus are import and export, transportation, shipping, clearing and forwarding, textile and leather garments, building materials, construction, warehousing, repacking and shipment and others.
Gwadar Industrial Estate Development Authority (GIEDA) is the government body which is working on the development of the industrial parks.
The benefits to invest in Gwadar are immense, one just need to be clear on how to buy properties in Gwadar. Be part of a big change!
