A recent report on Gwadar port has revealed that a lion’s share of the revenue generated from the hot-water port in the last three years has gone to China.
According to the report, the port generated Rs. 358.151 million ever since the inception of the project in 2016. Out of this Gwadar Port Authority (GPA) received only Rs. 32.324 million in three years.
Note that the project is not fully functional yet, thus producing a fair amount of revenue for both China and Pakistan.
As per the agreement details issued by the Ministry of Maritime Affairs on Thursday, China Overseas Ports Holding enjoys 91 percent share in Gwadar International Terminal and Gwadar Marine Services while Gwadar Port Authority holds only 9 percent share. Whereas, GPA’s share in Gwadar Free Zone is only 15 percent.
The ministry’s report further informed that the port concession agreements all around the world determine revenue sharing between port authorities and port operations and the same principle applies in Gwadar Port Concession Agreement.