As reported by Business Recorder the government has finalized and approved the ‘Gwadar Smart City Master Plan. The Federal Secretary Maritime Affairs Rizwan Ahmed announced the approval yesterday.
Secretary Rizwan had been briefing a subcommittee of Public Accounts Committee (PAC) held under the chairpersonship of Munazza Hassan. The committee had been discussing audit observations regarding the Maritimes Division.
Ahmed briefing the panel had said that Gwadar would become a new business hub not only for local and Chinese transit and trade but also for the region, including Afghanistan and Central Asia.
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It was also revealed by Senator Mushahid Hussain present at the meeting said that a major part of the Afghan transit trade was passing through Gwadar already.
The government he said was seeking the creation of a dry port by Uzbekistan and was in talks with the authorities there to make it happen. The dry port thus would serve all Central Asian Republics (CARs). Senator Ahmed said further that Uzbek authorities were keen to shift their exports and imports to Gwadar as it was the nearest port city for them.
Gwadar Smart City Master Plan
The officials revealed the projected details of the Gwadar Smart City Master Plan; the population of which is expected to exceed two million people in the long-term with high-paid expatriate professionals accounting for up to 80 percent of the population.
The city is likely to attract high commercial activity since the government will provide a tax-free zone there. Pakistan’s largest international airport had been inaugurated earlier this year in the new city.
The officials further projected that high-tech industries would be established, mega shopping malls, luxury resorts, and manmade islands too would be created eventually in and around Gwadar.
Gwadar’s GDP per capita to be 10 times that of Pakistani average
The master plan has been prepared by the Chinese state-owned company China Communications Construction Company along with Pakistan’s Minister of Planning and Development, and Gwadar Development Authority.
Read more: Afghan transit trade via Gwadar port starts
According to the plan, Pakistan seeks for Gwadar to become the economic and trade hub of South-Asia. The GDP per capita eventually of Gwadar is expected to reach $15,000 – 10 times that of Pakistan’s average. The total GDP is expected to reach beyond $30 billion per annum, creating 1-1.2 million jobs.
GVS News Desk