China to Get Control of Gwadar Port Amidst US and India ApprehensionsJuly 2, 2013 ISLAMABAD: Against the wishes of the United States and India, Pakistan and China are set to sign an agreement that will give operational control of the Gwadar Port to the latter. Upon his visit to Beijing, Prime Minister Sharif will sit with the Chinese Government to finalize the fine print of the agreement which will provide control of the port to China. Both the countries are undertaking this venture on a profit – sharing formula. Pakistan had handed over control of Gwadar Port to Singapore Port Authority which later sold its rights to a Chinese company. According to Kamran Michael, Federal Ports and Shipping Minister, China will make investments to make the port functional and turn Pakistan into a regional trade hub. China will invest in construction of berths to handle cargo ships. He also welcomed any investment from neighboring countries including Iran and Russia in Gwadar Port. Road infrastructure for the port will also be constructed and it will be linked with China through a railway link. Stressing that the PML-N government wants ‘trade not aid’, Michael expressed the hope that if the port started operating it would not only attract investment, but also enhance trade with neighboring countries.
Posted on: Thu, 04 Jul 2013 20:10:57 +0000
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