ISLAMABAD – Gwadar’s smart port city’s contribution to Pakistan’s GrossDomestic Product (GDP) can rise up to US$200 billion to $300 billion by2050.
According to a forecast by the ministry of planning and development, thecontribution of Gwadar in Pakistan’s economy will rise to $6 billion in ashort term by 2025 and $24 billion by 2035.
Gwadar Smart Port City Master Plan is a vital part of the multi-billiondollar China Pakistan Economic Corridor (CPEC) which, after completion,will transform the port city into a hub of industrialization, commercialactivity and international marine trade.——————————
As the city will grow, it will also create a huge number of employmentopportunities for the local as well as for the people hailing from otherparts of the country, an official in the ministry said.
Similarly, the per capita income of the citizens of Gwadar city will bearound $2000 in 2025 while it will rise to $4000 by 2035. According to thelong term forecast, the per capita income of the city will further surge toaround $10,000 to $15,000.More Job Opportunities
The official further stated that the development of the port, free zone andindustrial zones will create huge job opportunities and the employedpopulation is expected to reach 9000 to 12000 in short term, 24000 to30,000 in the medium term, while 100,000 to 120,000 in the long term. Thelabor participation is expected to increase and Gwadar will become aproductive and efficient city.
Read Top Stories
The Gwadar master plan was developed back in 2006, but it got delayed dueto flaws and lack of interest by the past governments.
However, on August 23 this year, the governing body of the GwadarDevelopment Authority accorded final approval to the Master Plan while thefeasibility study (PC-II) for implementation of Gwadar Smart Port CityMaster Plan was approved by Balochistan Provincial Development Authority(PDWP) at a total cost of Rs. 300 million on November 13, 2019.——————————
Under the plan, the government is planning to build diversified,prosperous, dynamic, and green industrial system so as to achieve fasteconomic growth and establish a new engine for the regional economy.
In the short term, Gwadar advantages in fisheries and geographical locationwill be given advantage, with a focus on its competitive industry.
