A breakthrough in Gwadar

Dr. Jassim Taqui

DG Al-Bab Institute for Strategic Studies

Islamabad, March 24,  2022: In a major development, Gwadar Free Zone (phase-II) goes into formal action in true letter and spirit after the initiation of the land allocation process and soil testing rolled out by registered companies. Gwadar Free Zone (phase-I) is already completed and functional.

The get-going makes a headway within 32 weeks after  Prime Minister Imran Khan inaugurated the Gwadar Free Zone (phase-II) during his one-day visit to Gwadar on July 5, 2021, while launching several other development and infrastructure projects including an expo center, agriculture industrial park, and three factories.

Agvon, a Chinese company, has formally set in motion its physical work by initiating soil testing investigation, according to its first phase of the infrastructure development plan.

On the allocation of 10 acres of land, the Agvon dredging team is working round the clock. “As per the agreement, Agvon plans to build a state-of-the-art fertilizer processing plant within the stipulated period,” Majid, an official of China Overseas Port Holding Company (COPHC), said.

Gwadar Free Zone phase-II, designed with unique needs of manufacturing, trading, and service industry, will be the beneficiary of tax exemptions, incentives, and tax concessions available to investors of the zone issued by the Federal Board of Revenue (FBR)’s Gwadar Tax-Free Zone Rules, 2021.