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Pakistan to decide operator for Gwadar Port next week
ISLAMABAD — President of Pakistan General Pervez Musharraf is expected to chair a high level meeting next week to decide a port operator for newly developed Gwadar Deep Sea Port.
The inauguration of the port in Balochistan province was being delayed because of the government's "indecisiveness" over the issue. A high-level meeting was to decide the matter on August 8 under the chairmanship of President General Pervez Musharraf but was postponed at the last moment.
Three international companies including Dubai Port World (DPW) are competing to operate Gwadar Port. Hutchision Port Holding of Hong Kong and the PSA International of Singapore have also joined the race for the port.
Sources said if the next meeting goes ahead, the winner of the contract would be announced and the port would be inaugurated during this month.
When asked why the government was delaying the selection, a source said: "This has to be decided at the highest level and that is why it could not be decided so far."
The source conceded that the three leading competitors were being backed by their governments to help win the right to operate Gwadar port. However, the DPW was said to be the preferred bidder as it was being supported by Chief Minister Balochistan Jam Yousuf and some other senior federal government officials.
At one stage, he conceded, a decision had been taken to give DPW the operating rights but later the president intervened and said let there be a fair competition among all the three international companies.
Sources said some of the officials of the ministry of ports and shipping were of the view that the terms of reference of the three companies needed to be once again looked into to decide the issue.
Gwadar port located at Balochistan is being considered a future trading hub in the region because of being so close to Gulf. Initially, the port is expected to face competition from Port Salalah of Iran, however after the completion of phase-2 by 2010 at a cost of $840 million, it is likely to become one of the busiest ports in the region.
It will provide warehousing, transshipment and industrial facilities for trade with over 20 countries including Gulf countries, Iran, Central Asian States, India, China and East Africa.
Tax holiday: Sources also said that the government would soon be announcing a 15-year tax holiday in the proposed Export Processing Zone (EPZ) being planned near Gwadar port for local and foreign investors. There will be tax exemption on customs, sales tax and excise duty in the EPZ with a view to promote substantial investment in Gwadar, Balochistan.
A number of foreign investors have shown interest to establish mega refineries, building storage capacity and undertaking other businesses in Gwadar to help expedite the process of industrialisation in Balochistan province.
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