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Gwadar to get Rs 1.722 billion in PSDP 2008-09 - LRE - 06-05-2008 04:24 PM
Gwadar to get Rs 1.722 billion in PSDP 2008-09
By Ijaz Kakakhel
ISLAMABAD: Keeping in view the strategic importance of Gwadar Port, the federal government has allocated Rs 1.722 billion for its development in the next fiscal year 2008-09.
In this regard allocations for six ongoing and one new development project has been approved in National Economic Council (NEC) meeting presided by Prime Minister of Pakistan. Total cost of these seven projects relating to development of Gwadar Port is Rs 27.681 billion.
The single new project for Gwadar development is ‘construction, supply and installation of two Pontoons (low-level platforms) at Gwadar Fish Harbour-Mini Port’ worth Rs 33.400 million.
The on-going six projects are: ‘Gwadar Deep Water Port (Phase-I) including deepening of channel worth Rs 16.380 billion’, Gwadar Port Civic Center, Gwadar worth Rs 199.730 million’, ‘Eastbay expressway to link National Road Network, Gwadar with cost of Rs 3.767 billion, ‘Construction of fish landing jetty and allied harbor facilities at Surbandar- East Bay – Gwadar worth Rs 672.674 million’, ‘Construction of fish landing Jetty and allied Harbor Facilities at Pakistan – West Bay Gwadar at Pushukan worth Rs 628.500 million’ and ‘Gwadar - Turbat - Hoshab Section (200 km) of Gwadar – Ratoder Road (650 km) M-9 worth Rs 6 billion’. The government expect that the last project namely, ‘Gwadar - Turbat - Hoshab Section (200 km) of Gwadar – Ratoder Road (650 km) M-9’ will cost Rs 8.533 billion till June 30 2008 and it surpass the actual amount Rs 6 billion total cost of the project. For next fiscal year, the government has allocated Rs 1 billion in the PSDP 2008-09.
The government is expecting that Rs 26.118 billion will be spent on the the six ongoing projects till 20 June.
The government has allocated Rs 200 million in the PSDP 2008-09 for Gwadar Deep Sea Water Port (Phase-I), Rs 38.730 million has been allocated for Gwadar Port Civic Center, Gwadar, Rs 100 million to be provided for East Bay Expressway to Link National Raod Network, Gwadar, Rs 175 million allocated for Construction of Fish Landing Jetty and Allied Harbor Facilities at Surbandar East Bay Gwadar, Rs 175 million has been allocated for Construction of Fish Landing Jetty and Allied Harbor Facilities at Pakistan West Bay Gwadar at Pushukan and Rs 1 billion for Gwadar-Turbat-Hoshab Section (200 km) of Gwadar – Ratoder Road (650 km) M-9.
The Gwadar port project arose from a Sino-Pak agreement signed in March 2002 under which China Harbor Construction Corporation is building the port. Beijing has provided $198 million and Islamabad $50 million.
Gwadar is also visualized as becoming a regional hub, serving commercial traffic to and from the Mid East, the Persian Gulf, and China’s Xinjiang province, Iran, Sri Lanka and Bangladesh. Its location at the mouth of the Persian Gulf and at the opposite end of the strategic choke points of Straits of Hormuz and the Gulf of Oman enhances its strategic importance. Its development could as well favourably influence the geo-strategic environment of the region and have an overall beneficial impact on Pakistan.
Additionally, the port would facilitate efficient exploitation of Pakistan’s exclusive economic zone, which so far has remained largely unexplored. The area is known to be rich in fisheries and if the 600 kilometer long coastal line is fully exploited, it could give a substantial boost to fish and crab exports and promote food-processing industries. Gwadar, lying close to the oil rich Gulf-states, could be a potential source of off–shore gas and oil reserves.
http://www.dailytimes.com.pk/default.asp?page=2008%5C06%5C05%5Cstory_5-6-2008_pg5_13