GWADAR, April 28: Federal Finance Minister Shaukat Aziz on Monday informed the business community that the entire Gwadar area would be declared a special economic zone to attract investment and to pave the way for achieving objectives of construction of a deep-water sea port here.

Accompanied by Balochistan Chief Minister Jam Muhammad Yousaf and Federal Industries Minister Liaquat Jatoi, Mr Aziz was talking to investors, businessmen, industrialists, bankers, journalists and a couple of diplomats drawn from all over the country on the directive of Prime Minister Mir Zafarullah Khan Jamali.

He said there would not only be industrial units here after the completion of the Gwadar Port but there existed a vast scope for warehouses and storage facilities so that goods could be transferred to Karachi on payment of a duty whenever there was need to do so.

These facilities would not only cater to local needs but also for the Middle East, Afghanistan and land-logged central Asian states.

He said the prime minister had asked him to bring the delegation of investors to Gwadar for what he called a “journey to reality”, so that the potential investors could see for themselves the scope and changes taking place here and visualise the future of this land.

He said those who had seen the development elsewhere could easily visualise the future of this sandy land.

“Those who had seen Dubai 20 years ago, can imagine what this land can be if investment is made and development is carried out here,” he said.

Highlighting the significance of Gwadar, Mr Shaukat said the oil shipping lines passed behind Gwadar and the completion of this port could bring about revolutionary changes in the development of this area and economy of the country.

He appreciated the role of China for development of the port and the area for which Beijing had pledged $200 million, the biggest package offered to any country by China.

Mr Shaukat said that Gwadar would be a free port and there was also a vast scope for the promotion of tourism as this area had one of the best coastlines in the world. He also said that the government had already approved the improvement in the local airport and it had directed the authorities concerned to take steps at the earliest so that big planes could also land here.

He said the airport expansion would be completed before the completion of the port and there would be an open sky policy. He also invited Mr Tabani of the Aero Asia Airlines to start flights to and from Gwadar. He also stressed the need for completing road links from Karachi to Gwadar and Gwadar to Chaman to make this area a gateway to Central Asia.

About the master plan prepared by Nespak, he said the work on the plan would be started simultaneously as it would not be possible to take full benefits of the port without support and services of allied sectors.

He said the area had a historical link with Oman and the Oman government had given a grant of $100 million to be paid in five years.

Out of which, electricity generators for the port had already been purchased and improvement of the boats of fishermen would also be carried out from this amount.