Gwadar to be declared tax free zone for industrial development.
Gwadar, a port city on the southwestern coast of Balochistan, Pakistan, will be declared tax free zone for an extendable 10-15 years to boost industrialization that will ultimately help to stabilize the national economy.
This was stated by Gwadar Development Authority Director General Shahzaib Khan Kakar during a meeting with a delegation of journalists.
“Gwadar will be turned into a tax-free economic city,” Kakar said, adding that the federal and Balochistan government will take steps in this regard.
We invite the business community to set up industries in the port city as they will create jobs, ushering in an era of prosperity, he said.
The GDA director-general said that Gwadar’s economic stability has the potential to increase the country’s per capita income from $1,300 to $15,000. Kakar went on to say that a one-window operation will be introduced to facilitate the business community.
Discussing the development plan for the region, he said that a master plan till 2050 has been prepared and it will be implemented strictly, adding that old residential areas will be rebuilt in modern lines.
He further announced that a treatment plant will be established for the desalination of five million gallons of seawater to ensure the availability of drinking water in the city.
Unveiling future plans, Kakar said that a shipyard, petrochemical, fishing, and tourist zones would be set up in Gwadar while an oil city would be established in Pisni.
Development in Gwadar will bring prosperity in Pakistan, he said, adding that a 300megawatt coal power plant project will mitigate the electricity-related issues.
The GDA DG said that legislation will be made for building control and other matters while an education city will also be set up.