ProPropertyNewsSenate Committee Calls for Tax-Free Status for Gwadar to Drive Economic Growth

Senate Committee Calls for Tax-Free Status for Gwadar to Drive Economic Growth

QUETTA: In a significant move, the Senate Standing Committee on Maritime Affairs announced its intention to request the federal government to grant Gwadar a tax-free status.

As per the details, this decision aims to position the port city as a vibrant hub for regional and global attention, fostering economic growth and tourism.

The committee, chaired by Rubina Khalid, emphasized the importance of developing Gwadar City through the initiation of additional projects that enhance the well-being and quality of life of the local population.

It further indicated that recommendations would be made to the federal and provincial governments to allocate funds to transform Gwadar into an international city in every aspect.

During the meeting, the Director General of Gwadar Development Authority (GDA), Mujib-ur Rehman Qambrani, provided a comprehensive briefing to the Senate Panel.

Qambrani highlighted that Gwadar, strategically located under the China-Pakistan Economic Corridor (CPEC), has undergone significant transformation to become a newly developed port city acting as a regional contact center.

With its natural deep-sea port, Gwadar is emerging as a prominent economic and tourism destination on the global stage, benefiting not only China and Pakistan but also Central Asia, East Asia, Russia, and the wider Eurasian region.

As part of the master plan, GDA aims to establish a special economic district encompassing tax-free estates and a central business district covering 2500 acres.

The Economic District developed by GDA aims to offer domestic and foreign investors similar benefits and privileges available in special economic zones worldwide, the DG affirmed.

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Qambrani further informed the committee that GDA has not only completed economic projects by developing the fundamental infrastructure of Gwadar but has also prioritized numerous public welfare initiatives and necessities.

These include educational institutions, healthcare facilities, water and electricity supply, road networks, parks, sewage systems, grounds, jetties for fishermen, fishermen colonies, preservation of archaeological sites, and various tourism projects.

The local population is directly benefiting from these development schemes, he emphasized.

The meeting witnessed the presence of Senators Nizhat Sadiq, Kauda Babar, Dost Muhammad, and Abida Muhammad Azim, along with the Chairman of Gwadar Port Authority, Pasand Khan Buledi, and other senior officials.

Source: The Nation

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