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Pakistan Cabinet Orders 50% of Wheat, Sugar, and Fertilizer Imports via Gwadar Port

by Web Desk
September 13, 2024
in Business, Economy, Main, New, News, Pakistan
0
Pakistan Cabinet Orders 50% of Wheat, Sugar, and Fertilizer Imports via Gwadar Port

Pakistan Cabinet Orders 50% of Wheat, Sugar, and Fertilizer Imports via Gwadar Port

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ISLAMABAD: Pakistan’s federal cabinet has directed that 50% of the country’s wheat, sugar, and fertilizer imports be routed through the southwestern deep-sea port of Gwadar, as reported by state media on Thursday.

Located in the mineral-rich Balochistan province along the Arabian Sea, Gwadar is a key part of the China-Pakistan Economic Corridor (CPEC), which is essential to China’s Belt and Road Initiative. However, the port remains underutilized for trade due to its distance from major markets and ongoing security challenges in the region.

The China Overseas Port Holding Company (COPHC), which manages Gwadar, plans to expand the port’s capacity to handle 400 million tons of cargo annually. Long-term developments aim to construct 100 berths by 2045.

Last month, Prime Minister Shehbaz Sharif instructed that 50% of public sector imports should be handled through Gwadar. Following this, the cabinet has now formalized the directive, emphasizing future growth in exports through the port. A sub-committee will be formed to provide quarterly reports on import and export activities at Gwadar.

China has expressed concerns over the security of its workers in Pakistan, particularly after a suicide bombing in March killed five Chinese engineers in Khyber Pakhtunkhwa. Recent militant attacks, including one that resulted in over 50 casualties, delayed the opening of a Chinese-funded airport in Gwadar, further highlighting the security challenges in the area.

Tags: latestPakistan
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