Pakistan
Gwadar Port will cater 50% of Pakistan's key imports
This development is expected to significantly impact Balochistan's economy and job market
Gwadar: Authorities have decided to route 50 percent of the country’s import through Gwadar Port, stated a report.
Once a small fishing village and now a major harbor developed under the China-Pakistan Economic Corridor (CPEC), is poised to play a crucial role in Pakistan's import strategy.
According to the recent report, Gwadar Port will cater the needs of different kinds of import including wheat, sugar, and fertilizers.
This development is expected to significantly impact Balochistan's economy and job market. The port, considered a strategic asset for Pakistan, is set to become an international trade hub. Future plans include increasing the port's export capacity as well.
The full operationalization of Gwadar Port is seen as vital for employment in Balochistan and the province's economic stability. It is anticipated to reduce the burden on Karachi Port and generate foreign exchange, potentially improving the lives of the local population.
Reports suggest that the port's activation could lead to a noticeable reduction in poverty and unemployment in the region. Priority for job opportunities at the port will reportedly be given to local residents and those from other areas of Balochistan.
Beyond employment, Gwadar Port is expected to usher in a new era of education and research opportunities for Balochistan's youth, contributing to the overall development of the province and, by extension, Pakistan's prosperity.