Sunday, February 04, 2007
Gwadar revenue to be shared with Balochistan: Babar
* President Musharraf to inaugurate Gwadar port on March 22 or 24
KARACHI: Shipping and Ports Minister Babar Ghouri has said that Gwadar Port which has been leased to a Singapore firm would earn a handsome revenue of $40 billion, which would be shared with the Province of Balochistan.
While addressing a press conference at the Karachi press club on Saturday, he informed that the inaugural for the 40-year lease would be signed on March 22 by PM Shaukat Aziz, and Balochistan would be given due share, talks for which are underway between the federal and provincial government.
He said that government efforts are specifically aimed at reducing the poverty in the Province, and announced that all employments of grades 1 to 16 would belong to thje locals, who would also be given a sizeable quota from within Upper grade officers.
He said that Gwadar Project was not being opposed by general provincial masses, but rather by some miscreant elements, and also claimed that despite some corrigible reservations, "nationalist elements" were also quite in favor of the project.
Replying to a question he said that Gwadar Port would be used solely for commercial and trade activities, however in case of any untoward emergency it can be and would be used for security purposes as well.
He denied that the construction of the Port would harm other ports of the country, since the port stands to compete with Dubai port. While replying in reference to another question about the port regarding fraudulent registration of estates he said that, he has no knowledge whatsoever about the issue, since it is a provincial issue and could be answered by the provincial government.
Pakistan plans in March to inaugurate a new port, built with Chinese help and to be operated by Singapore's PSA International, at Gwadar.
Pakistan has grand plans to turn the port into a major energy and container transport hub to open up trade routes with Central Asia.
"President Pervez Musharraf will inaugurate Gwadar port on March 22 or 24," Babar Khan Ghauri, Minister for Ports and Shipping, told a news conference on Saturday.
He said a formal agreement with PSA International, owned by the Singapore government investment holding Temasek, for handling port operations will be signed on Tuesday.
In December, a consortium led by PSA won the contract to operate the deep-sea port on the Arabian Sea, about 450km (280 miles) west of the city of Karachi and about 70km (45 miles) east of the Iranian border.
Under the agreement, PSA will run the port for 40 years, during which time it will be exempted from corporate tax, Ghauri said.
"Also, no duty will be imposed on any equipment and machinery imported to develop the port during this period," he said.
PSA has envisaged investing $3 billion in the project, of which $550 million would be invested in the first five years. Pakistan's AKD Group is part of the Singaporean consortium.
http://www.dailytimes.com.pk/default...4-2-2007_pg5_1
Gwadar revenue to be shared with Balochistan: Babar
* President Musharraf to inaugurate Gwadar port on March 22 or 24
KARACHI: Shipping and Ports Minister Babar Ghouri has said that Gwadar Port which has been leased to a Singapore firm would earn a handsome revenue of $40 billion, which would be shared with the Province of Balochistan.
While addressing a press conference at the Karachi press club on Saturday, he informed that the inaugural for the 40-year lease would be signed on March 22 by PM Shaukat Aziz, and Balochistan would be given due share, talks for which are underway between the federal and provincial government.
He said that government efforts are specifically aimed at reducing the poverty in the Province, and announced that all employments of grades 1 to 16 would belong to thje locals, who would also be given a sizeable quota from within Upper grade officers.
He said that Gwadar Project was not being opposed by general provincial masses, but rather by some miscreant elements, and also claimed that despite some corrigible reservations, "nationalist elements" were also quite in favor of the project.
Replying to a question he said that Gwadar Port would be used solely for commercial and trade activities, however in case of any untoward emergency it can be and would be used for security purposes as well.
He denied that the construction of the Port would harm other ports of the country, since the port stands to compete with Dubai port. While replying in reference to another question about the port regarding fraudulent registration of estates he said that, he has no knowledge whatsoever about the issue, since it is a provincial issue and could be answered by the provincial government.
Pakistan plans in March to inaugurate a new port, built with Chinese help and to be operated by Singapore's PSA International, at Gwadar.
Pakistan has grand plans to turn the port into a major energy and container transport hub to open up trade routes with Central Asia.
"President Pervez Musharraf will inaugurate Gwadar port on March 22 or 24," Babar Khan Ghauri, Minister for Ports and Shipping, told a news conference on Saturday.
He said a formal agreement with PSA International, owned by the Singapore government investment holding Temasek, for handling port operations will be signed on Tuesday.
In December, a consortium led by PSA won the contract to operate the deep-sea port on the Arabian Sea, about 450km (280 miles) west of the city of Karachi and about 70km (45 miles) east of the Iranian border.
Under the agreement, PSA will run the port for 40 years, during which time it will be exempted from corporate tax, Ghauri said.
"Also, no duty will be imposed on any equipment and machinery imported to develop the port during this period," he said.
PSA has envisaged investing $3 billion in the project, of which $550 million would be invested in the first five years. Pakistan's AKD Group is part of the Singaporean consortium.
http://www.dailytimes.com.pk/default...4-2-2007_pg5_1