The Chinese operators of Pakistan’s strategic Gwadar Port and its free zone in the restive Balochistan province have vowed to make the coastal city the single largest contributor to the country’s national economic output in seven years by creating 47,000 jobs with new investments worth billions of dollars, according to a media report.
China Overseas Ports Holding Company (COPHC) Gwadar Chairman Zhang Baozhong said this on Tuesday after the Pakistan government stamped 23-year income tax holiday and exemptions of sales tax and customs duties for the Gwadar Port and businesses to be set up at Gwadar Free Zone, the Express Tribune reported.
“It (issuing of ordinance) is a turning point for Pakistan’s economy and now billions of dollars will be invested in Gwadar,” Zhang told the mediapersons.