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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

 


 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln