ProPropertyNewsGwadar Safe City Project Gets Green Light with $300 Million Investment

Gwadar Safe City Project Gets Green Light with $300 Million Investment

QUETTA: The Balochistan government has recently bestowed Gwadar with the prestigious status of a Special Economic District (SED) as part of its strategic plans to bolster port activities and facilitate the swift development of this vital coastal district. Following approval from Chief Minister Mir Abdul Qudoos Bizenjo, the Planning and Development Department set forth the proposal to declare Gwadar as a Special Economic District. The primary objective behind this significant move is to introduce a comprehensive set of professional policies formulated by the government, which will serve as a catalyst for the accelerated growth and progress of Gwadar. By designating Gwadar as a SED, the government aims to create a conducive environment for attracting local and foreign investment, stimulating economic activities, and fostering job creation in the district. This prestigious status will not only enhance Gwadar's economic potential but also position it as a key player in the region's trade and commerce landscape. It opens up new avenues for business expansion, industrial development, and international trade, thereby unlocking the true potential of Gwadar's strategic location as a deep-sea port. The Special Economic District designation will provide Gwadar with a range of incentives, tax benefits, and streamlined regulatory procedures to attract investors and businesses across various sectors. With this forward-thinking initiative, the Balochistan government demonstrates its commitment to propel Gwadar's socio-economic growth and transform it into a thriving hub of economic activity. It is anticipated that the declaration of Gwadar as a Special Economic District will not only bring about rapid development but also contribute significantly to the overall progress and prosperity of Balochistan and Pakistan as a whole.
By Firas Qureshi | Published Feb 10, 2023 | 11:19 am

QUETTA: Izzat Nazir Baloch, the Deputy Commissioner of Gwadar, stated on Wednesday that the Gwadar Safe City Project had received approval for roughly Rs. 5 billion.

While speaking to the delegates from various places in his office, he stated that in light of the city’s general economic expansion, the Central Development Working Party (CDWP) has sanctioned roughly Rs. 5 billion for phase-I of the Gwadar Safe City Project to provide fool­proof security.

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According to him, the initiative was one of the 10 development projects that the Federal Planning, Development, and Special Initiatives Minister Ahsan Iqbal’s Central Development Working Party authorized.

The Gwadar Safe City initiative would aid all government stakeholders, including the local government, the Gwadar Police, and other law enforcement agencies.

Besides, he noted that the project would also help in supporting the existing security apparatus and easing communication difficulties.

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