Gwadar Updates

[ghazi52]

Gwadar Free Zones, Announcement of tax exemption on import of vehicles.

Government of Pakistan imported custom free vehicles in Gwadar Free Zone North and Gwadar Free Zone South under regulatory framework set by Federal Board of Revenue, Customs & Excise & Taxation Department Balochistan to boost investment to the full potential. Permission is allowed.

The Ministry of Maritime Affairs has prepared a draft regulatory mechanism for the import of vehicles by Gwadar Free Zone and its operating companies. The regulatory framework has been formed with the notification of the Federal Board of Revenue (FBR) which aims to make Gwadar Free. Making the zone operational and accelerating the industrial process.

According to the revised regulatory mechanism, free zone investors will be allowed to import custom duty-free vehicles for their construction and operation. This will later encourage new investors to invest more in free zones.

Regards, Gwadar Port and Gwadar free zone operator China Overseas Ports Holding Company received an exception under the concession agreement signed with the Government of Pakistan in 2007.

Free zone concession owners with revised module will have to submit declaration form in Gwadar Port Authority to obtain exemption under Pakistan Customs Tariff (PCT) Code. Nevertheless, vehicles shall be excise and as per the importer Motor Vehicle Ordinance 1965. Will register in the taxation department.

Meanwhile, the Cabinet Committee on Chinese Investment Projects (CCOCIP) is planning to exempt from the import and export policy order to facilitate the shipment of fertilizer investors to foreign markets.

 

[ghazi52]

University of Gwadar, Balochistan

Built under China-Pakistan Economic Corridor, university provides scholarships to the local students.

- Courses Offered at Gwadar University

- BS Information Technology
- BS Data Science
- BS Business Administration
- BS English Literature
- BS Education
- BS Chemistry
- BS Economics
- BS Commerce
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Chinese funded

Pak-China Technical And Vocational Institute At Gwadar​

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[HaiderAfan]

Good news for Pakistan! China-aided Gwadar International Airport is ready to be handed over to Pakistan. This new facility is among the few 4F-grade airports in the country, meaning it can accommodate the world's largest jets. The airport is expected to boost Gwadar’s connectivity, enhance trade, and support tourism and economic development in the region, further strengthening the China-Pakistan Economic Corridor (CPEC) partnership.

 

[ghazi52]

 

[ghazi52]

First Gwadar local company enters in North Free Zone​

By Yasir Habib Khan | Gwadar Pro
Nov 20, 2024

GWADAR, On November 15, Levant Enterprises, the first local company based in Gwadar, signed a contract to operate its business within the Gwadar North Free Zone. This strategic move underscores the company's commitment to expanding its operations and capitalizing on the economic opportunities presented by the Gwadar Free Zone.

Levant Enterprises is a company registered with the Securities and Exchange Commission of Pakistan. A key aspect of its business involves the large-scale import and export of dry fruits, sourced both domestically and internationally.

The company processes and packages these products to meet international standards, after which the value-added goods are exported to China. In 2022, China's imports of dry fruits from Pakistan amounted to $29.4 million, highlighting the potential and demand for this sector.

With over three decades of experience, Levant Enterprises has established itself as a prominent player in the fish trade and other aspects of the seafood and aquaculture industries. This extensive background in handling perishable goods and navigating international trade regulations positions the company well to expand its operations into the dry fruits market, leveraging its existing expertise and network to ensure high-quality products and reliable supply chains.

Gwadar Port Authority, Gwadar Free Zone Company Limited and China Overseas Ports Holding Company Limited have facilitated in the process of signing the sub-lease agreement with Levant Enterprises that will launch a fruit packaging and processing business at earliest.

Talking to Gwadar Pro, GPA official revealed that so far two export-based Chinese companies are working in Gwadar North Free Zone that enjoy exemption from all sorts of taxes and customs duties for a period of 20 years.

Meanwhile, Gwadar South Free Zone also houses six Chinese companies that include Gwadar Green Ecological S&T Company, a subsidiary of Yulin Holdings, Linyi Trade City, China Business Centre, Huafa Exhibition Business Centre, HK Sons and Haixintian Pelagic Fishery Overseas Base Company.