Ayesha Saba

Pakistan is fast becoming an international trading hub through Gwadar port, as it provides significant economic benefits to importers and exporters through highly efficient operations, advanced cargo handling, substantial storage areas for all types of cargo, and extensive ancillary facilities.

Talking to WealthPK, Adnan Khan, a research associate at the Centre of Excellence, China-Pakistan Economic Corridor (CPEC), said that changing geopolitical conditions had shifted alignment patterns from politics to economy. “Economic security is becoming the topmost priority among national security preferences around the world. China is leading this sphere by forging and strengthening its economic relations with countries around the world, including Asia, to speed up economic development.”

He said Pakistan would have to create links and generate wealth to lessen the challenges and pressures posed by enhanced economic activities within the region and beyond. Adnan Khan said, “Gwadar has the potential to realise the long-cherished goal of enhancing trade links between Pakistan and Central Asian countries. The port is designed specifically to serve the needs of China and Central Asian countries.”

He informed WealthPK that there had been an influx of import cargoes at the Gwadar port recently as three vessels, each carrying 90,000 metric tonnes of urea, had arrived at the port. “This influx of cargo shows an increased economic activity is going on in Gwadar region, creating job opportunities and boosting the local economy.”

He further said that to become an international trading hub, Pakistan needed to make significant investments in its infrastructure to support the growth of the port and its related industries. “This will include investments in transportation, communications, energy infrastructure, and human capital development. The country will also need to address logistic challenges to ensure that the port is accessible and secure for foreign investors and traders.”

The CPEC’s Centre of Excellence research associate said that the incumbent government was committed to bringing Balochistan on a par with other parts of the country. “The issue that is causing a great deal of concern in Balochistan is the lack of power supply. Recently, the National Transmission and Dispatch Company completed a 29-kilometre-long double-circuit transmission line from Polan area of Iran to Gwadar,” he added.

“With the construction of the transmission line, Pakistan’s transmission system has become capable to evacuate an additional 100MW of Iranian electricity to various parts of Balochistan. Furthermore, there are two other important energy projects: a 320MW China Hub Coal Power Project, and a 300MW coal-fired power project, in the province.”

Credit: Independent News Pakistan-WealthPk