High-level meeting held to discuss increased imports through Gwadar Port
Islamabad: In a continued effort to boost economic growth and streamline trade operations, a follow-up meeting was convened here under the Chairmanship of Federal Minister Maritime Affairs Qaiser Ahmed Sheikh focussing on boosting trade activities at the Gwadar Port.
As per the directives of the Prime Minister of Pakistan this meeting, second in a series, focused on enhancing measures to increase imports through Gwadar Port and sought proposals from stakeholders.
Held at the Ministry of Maritime Affairs, the session brought together key stakeholders, including representatives from the Ministry of Maritime, Commerce, Ministry of Finance, Ministry of National Food Security, Ports and Shipping members of Quetta & Lahore Chamber of Commerce and other stakeholders.
The discussions centered around optimizing the port’s operational capacity, improving infrastructure, and implementing efficient customs procedures to facilitate smoother import and export processes.
The Minister of Maritime Affairs said that we are gathered to work out a comprehensive plan to making Gwadar Port a pivotal hub in Pakistan’s trade network according to the vision of Prime Minister.
By addressing the challenges and implementing strategic improvements, we are poised to enhance our import and export capabilities, which will have far-reaching benefits for the entire country.
Plans to upgrade port facilities, including the expansion of storage capacities and the modernization of loading and unloading equipment, were reviewed. These improvements aim to reduce turnaround times and increase the volume of goods handled.
The meeting emphasized the need for more efficient customs processing. Steps to integrate advanced digital tracking systems and streamline bureaucratic procedures were discussed to ensure faster clearance of goods.
The potential of granting industrial status to the fisheries sector was also discussed recognizing its importance in boosting economic activity and exports as there has been a considerable increase in fish export over the last year making it the third in the list of top export items. This status would provide the sector with various incentives, enhancing its growth and contribution to the economy.
It was suggested that Addressing sales tax and duty issues was a priority, with proposals to rationalize taxes to make Gwadar Port more competitive and attractive for businesses.
Moreover, the meeting stressed that the development of a comprehensive deep-sea policy was deliberated to facilitate large-scale maritime activities and attract international shipping companies to Gwadar.
Establishing value addition facilities and improving infrastructure to support industrial activities around the port were discussed. This includes processing zones and logistical support to maximize the economic benefits of imports and exports through Gwadar.
Utilizing Gwadar Port is expected to significantly contribute to the regional and national economy. The port’s strategic location provides a direct trade route to Central Asia and the Middle East, reducing transportation costs and transit times.
The operational expansion of Gwadar Port is projected to create numerous job opportunities in the region, fostering local development and enhancing the standard of living for the local populace.
The Federal Minister expressed that the blue economy initiatives aim to create job opportunities, enhance food security, and promote economic diversification, positioning Pakistan as a key player in the regional maritime economy moreover, he added, as Gwadar evolves into a major trade hub, it is anticipated to spur additional businesses and attract foreign investments.
