Gwadar port and its impact on future economy
- 2 days ago
Gwadar Port is owned by the government-owned Gwadar Port Authority and operated by China Overseas Port Holding Company (COPHC), a state-run Chinese firm. Prior to COPHC, the port was operated by the Port of Singapore Authority.
Prime Minister of Pakistan Feroz Khan Noon and his wife Viqar-un-Nisa Noon entered negotiations with the Sultan of Oman, Said bin Taimur in 1958. During this time, the Sultan of Oman agreed to hand Gwadar over to Pakistan for Rs. 5.5 billion, which was paid to by the 49th Imam of Nizari Ismailis, Aga Khan IV.
It is the third important deep seaport of Pakistan. It is located at the cross-junction of international sea shipping and oil trade routes. Gwadar can act as an international trade hub for Pakistan. Gwadar Port would connect three regions, i.e. Central Asia, South Asia and the Middle East.
The port features prominently in the China–Pakistan Economic Corridor (CPEC) and is considered to be a link between the Belt and Road Initiative and the Maritime Silk Road projects.
Prime Minister of Pakistan Feroz Khan Noon and his wife Viqar-un-Nisa Noon entered negotiations with the Sultan of Oman, Said bin Taimur in 1958. During this time, the Sultan of Oman agreed to hand Gwadar over to Pakistan for Rs. 5.5 billion, which was paid to by the 49th Imam of Nizari Ismailis, Aga Khan IV.
It is the third important deep seaport of Pakistan. It is located at the cross-junction of international sea shipping and oil trade routes. Gwadar can act as an international trade hub for Pakistan. Gwadar Port would connect three regions, i.e. Central Asia, South Asia and the Middle East.
The port features prominently in the China–Pakistan Economic Corridor (CPEC) and is considered to be a link between the Belt and Road Initiative and the Maritime Silk Road projects.