ISLAMABAD – The contribution of Gwadar’s smart port city in Pakistan’sGross Domestic Product (GDP) will rise up to US$200 billion to $300 billionby 2050.
According to a forecast by ministry of planning and development, thecontribution of Gwadar in Pakistan’s economy would rise to $6 billion inshort term by 2025 and $24 billion in 2035.
Similarly the per capita income of the citizens of Gwadar city would bearound $2000 in 2025 while it would rise to $4000 by 2035. According to thelong term forecast, the per capita income of the city would further surgeto around $10,000 to $15,000.
Gwadar Smart Port City Master Plan is a vital part of the multi billiondollar China Pakistan Economic Corridor (CPEC) which after completion wouldtransform the port city into a hub of industrialization, commercialactivity and international marine trade.
As the city would 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.
He said the development of the port, free zone and industrial zones willcreate huge job opportunities and the employed population is expected toreach 9000 to 12000 in short term, 24000 to 30,000 in medium term while100,000 to 120,000 in long term. The labor participation will also beincreased and Gwadar will become a productive and efficient city.
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The Gwadar master plan was developed way back in 2006, and it got delayeddue to flaws and lack of interest by the past governments.However on August 23 this year, the governing body of Gwadar DevelopmentAuthority accorded final approval to the Master Plan while the feasibilitystudy (PC-II) for implementation of Gwadar Smart Port City Master Plan wasapproved by Balochistan Provincial Development Authority (PDWP) at a totalcost 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 regional economy.
In the short term, Gwadar advantages in fisheries and geographical locationwill be given full play, with focus on its competitive industry.—APP
