The federal government has asked Balochistan authorities to allocate 10,000 acres of land for the 'Special Economic Zone' at Gwadar Port. "The government wants to provide conducive environment to the investors by providing tax relief and other incentives, therefore, Balochistan authorities have been requested to allocate 10,000 acres of land for a Special Economic Zone," well-informed officials told Business Recorder here on Thursday.
The government has completed the first phase of the Gwadar project three months ahead of schedule, with the technical and financial assistance of the Chinese government.
The formal inauguration of Gwadar Port is expected in March 2005, as President General Pervez Musharraf and Chinese Premier will grace the event.
Requesting anonymity, officials informed this correspondent that Secretary Port and Shipping, Fazlur Rehman was likely to visit Gwadar in next couple of days to finalise all the arrangements of land allocation.
The investors will be offered special incentives to set up industries at the economic zone including tax relief and reduction in tariffs.
The government has also decided to hire professional port operators to make this zone successful, officials said, adding that the European Union would also be contacted to help government in setting up technical institutions there.
Officials said that Special Economic Zone would be made a hub of trade, as import and export from Gwadar Port to other regional countries will take comparatively short time.
When asked whether the government has made any plan to shift people residing near the port, the officials said that the government is taking stock of the situation.
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