Private sector invited to invest in Gwadar

Gwadar Development Authority (GDA) Director General, Ahmed Bakhsh Lehri, on Monday invited private sector to invest in Gwadar and utilise development opportunities being extended by the government.
Addressing members of Federation of Pakistan Chambers of Commerce and Industry here at the FPCCI House, he said that there was possibility to invest in monorail and desalination projects, considering the vast portion of land lying vacant in the 'next big economical hub of Pakistan'.
Referring to two authorities in Gwadar- Gwadar Development Authority and Gwadar Provincial Authority, he said plans for provision of infrastructure included 950km railway line and 900km motorway to link the city with other parts of the country.
Lehri said the western portion, which was away from port, had been reserved for development of residential areas, while the eastern portion was being developed for establishment of industries and warehouses.
Provincial government would provide 1,000 acres of land to private sector for development, he said, adding that so far 30 NOCs had been issued for residential, industrial and entertainment schemes.
Further motivating private investment, the DG said Gwadar had developed facility to receive 30mw electricity from Iran and another facility of 20mw was promised.
He said the government was receiving applications for allotments of plots, while 129 plots had already been allotted and 400 applications were under process.
Dispelling the impression that government was not sincere with local people, he said the government would have easily acquired land at Rs 5,000 per acre prior to announcement of Gwadar project, but now prices had shoot up to Rs 2 million per acre.
Further briefing on the process of initiating the projects, he maintained that the GDA used to issue NOC to a party if it had land, viable development plan, bank guarantee worth 30 percent of saleable cost of plot, besides ensuring completion of project in time limit of three years.
He also assured the FPCCI to consider it's proposal of declaring the planned industrial free zone in Gwadar as economic free zone for undertaking both industrial and commercial activities.