10 REASONS WHY GWADAR REPRESENTS THE FUTURE OF A BETTER PAKISTANadmin
Gwadar is a port city that serves as the entrance point for the enormously profitable trade routes known as the China Pakistan Economic Corridor (CPEC) and the One Belt One Road (OBOR) initiative. Gwadar, Pakistan’s Baluchistan region, had a desolate appearance for many years, with little evidence of growth and practically no involvement in Pakistan’s economy. However, it is now being hailed as a game-changer that would provide a massive boost to the Pakistani economy for decades to come.
Here are ten reasons why Gwadar is the future of a stronger Pakistan.
New job opportunities and business opportunities for Pakistanis
The reconstruction of Gwadar is a multibillion-dollar project funded by China as part of CPEC. This initiative will entail constructing port facilities and residential and commercial infrastructure, resulting in hundreds of thousands of job possibilities for locals.
Significant boost for the real estate industry
Baluchistan was, until recently, far less developed than the other of Pakistan’s provinces. The construction of infrastructure in Gwadar would result in a boom in the Baluchistan real estate market, benefiting thousands of Pakistani and foreign investors.
The strategic placement will benefit everyone concerned.
Gwadar is on the Arabian Sea coast at the entrance to the Strait of Hormuz, one of the world’s busiest oil shipping routes, accounting for 20% of worldwide petroleum traffic. As a result of the port’s strategic location, it is incredibly vital to both Pakistan and, in particular, China, which lacks a port that far west.
The tourist sector in Pakistan would benefit.
Pakistan is a country rich in natural beauty and ancient landmarks. Once Gwadar is complete, travelers from other nations will have easy access to these picturesque places around the country. As a result, it would boost Pakistan’s tourist industry and consequently the country’s GDP.
Increase in Pakistan’s overall trade output
Gwadar’s deep harbor will increase capacity for commodities import and export. Using the roads and facilities built as part of CPEC, Pakistan will considerably boost its commerce with several Central Asian nations. At the moment, the country of around 190 million people has only one seaport in Karachi. Gwadar will enable considerably more trade with a plethora of new lands.
It will assist people in obtaining better pay.
There are already thousands of Pakistanis working in the harbor. Moreover, the daily salary rates for laborers in Gwadar are significantly higher than in the rest of Pakistan. That would assist in improving the lifestyles of numerous Pakistanis, as they will have more spare cash to spend on other products and services, therefore strengthening the country’s overall economy.
Gwadar will entice investors from all over the world.
Residential and commercial property prices in Gwadar have already risen dramatically in a short period. Therefore, international investors still have many opportunities to earn a high rate of return on investment for international investors. These investors are flocking to Gwadar in significant numbers to purchase a property. This significant investment from foreign companies will inject large sums of money into the Pakistani economy, strengthening it even more.
Baluchistan’s local economy is boosting significantly.
Gwadar’s reconstruction is so extensive that a lot of lands need by local landowners in Baluchistan. Therefore, these property owners get rewarded for their land at a very high rate. This money would significantly enhance the economy of Baluchistan province once it invests in diverse economic activities.
Business would gain from all areas of Pakistan.
Not only Chinese Xinjiang province but also other sections of Pakistan, Gwadar will have a good connection. That would provide companies in other Pakistani provinces tremendous possibilities to sell their products to other nations. This higher export will add to Pakistan’s total GDP. Moreover, with the immense trading prospects accessible through the Gwadar port, small enterprises may grow and expand at an expensive rate.
Gwadar will encourage greater industrialization.
For the majority of its exports, Pakistan remains primarily dependent on agriculture. Industrial operations in Gwadar would further industrialize the country as a whole, increasing Pakistan’s economy considerably.