All
 

 

Just in:  

You are here: Home»Top News»Pakistan Top News»Pakistan to transfer Gwadar Port to China

gwadar-port

 

KARACHI: Pakistan will transfer the strategically located deep-sea Gwadar port on the Arabian Sea to China, the media reported on Thursday.

 

Primary funding has been provided by China with $250 million for construction of the port in the province of Balochistan.

 

The port, currently being operated by Singapore's PSA International, is in need of dire developmental work to become fully operational.

 

In May 2011, former defence minister Ahmad Mukhtar said that China had agreed to take over port operations at Gwadar.

 

He also said Islamabad wants China to a construct a naval base in Gwadar for Pakistan.

 

However, China said it was unaware of any such request. 

 

Copyright Business Recorder, 2013

 


 



 
Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95






Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln