The Pakistan Economy Watch has called for increased focus on the development of Gwadar Port and said Gwadar is a key to success for Pakistan
The Pakistan Economic Watch has urged to accelerate the development process of Gwadar port and said that the maritime commerce is the future of the world.
However, Pakistan’s more than 90 percent cargo came through the ports and sea cargo. After Karachi and Port Qasim, Gwadar is the most important advanced port of the country. It has another uniqueness stickled with its name that is the part of Economic Corridor between China and Pakistan.
The Pakistan Economy Watch (PEW) said that the developed ports will ensure a smooth inflow of commodities coming to Pakistan from the outer world and spur of economic activities of the country.
Pakistan is facing several serious challenges regarding internal security and its economy is also under pressure due to these challenges and various reasons, including the bottleneck that economy faces via congestion of ports. This bottleneck remains one of the leading sprints to the economic growth of the country.
The Pakistan Economic Watch has urged that Pakistan should burn some extra night fuel for the development of ports. Authorities must allocate extra sources on the development of ports. Said Dr. Murtaza Mughal, President of Pakistan Economic Watch.
A major transformation policy needed to initiate the transformation process at the Pakistani ports as economic experts say that the ports are key to success for most sectors like Agriculture, manufacturing, and trade. As Karachi is the largest port of the country, but Port Qasim is handling at least 37 percent cargo of the country.
The Port Qasim has good returns on revenue and earning good profits as well, but towards the advancement, progress is very slow. Development procedures at the ports are another issue.
At the juncture of South Asia, Central Asia and the Middle East, the Port of Gwadar has its own importance and value, it needs urgent attention. All Pakistani ports are capable of handling one million containers in a year, while the port of Jabel Ali, UAE handles 20 million containers every year.
Similarly, on the other side of the bay, the Port of Sohar, of Oman, which is hardly 60 miles from Gwadar, handles 5 million containers in the same time. It is also becoming the major transportation hub in the region.
Pakistan is nowhere in the top 50 best container handler ports in the world, where Shanghai port and Singapore ports are leading the list. Pakistani ports are at the bottom of the SAARC region ports where Dhaka leads the list.
