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Gwadar Port generates Rs358.151m revenue during last three years: Ali Haider Zaidi

Gwadar Port generates Rs358.151m revenue during last three years: Ali Haider Zaidi

ISLAMABAD: Minister for Maritime Affairs Syed Ali Haider Zaidi has said that revenue generated from Gwadar Port will not be allocated to federal or provincial governments.

He informed the Senate that during last three years, total gross revenue of Rs358.151 million has been generated from Gawadar Port, out of which share of Gwadar Port Authority was Rs32.324 million.

Replying to a question of Senator Agha Shahzaib Durrani that what would be ratio or percentage of the said revenue being provided to the federal government, provincial government and other stakeholders?

The Minister of Maritime Affairs disclosed that revenue share, distribution ratio or percentage between port operator (China Overseas Ports Holding Company Ltd) and Gwadar Port Authority are 91 and 9 to 15 percent.

According to details, the share of China Oversees Ports Holding in Gwadar International Terminal and Gwadar Marine Services is 91 percent while Gwadar Port Authority share is 9 percent.

Gwadar Port Authority share in Gwadar Free Zone is 15 percent while rest of the 85 percent shares is held by China Oversees Ports Holding Company.

He explained the port concession agreements all around the world determine revenue sharing between port authorities & port operations and same principle applies in Gwadar Port Concession Agreement. Therefore, no revenue is allocated to either federal or provincial government.