Federal Minister for Maritime Affairs Junaid Anwar Chaudhry on Monday announced a major reduction in tariffs at Gwadar Port aimed at boosting global transit traffic, according to an official statement.

According to the statement, the minister said that berthing fees for container ships have been reduced by 25 per cent, while port charges on international transshipment containers have been cut by 40pc. He added that port charges on transit container cargo have also been reduced by up to 31pc.

Further, a one-month free storage facility has been introduced for general cargo, the minister added.

“Ships bringing transit and transshipment cargo have been given major relief,” Chaudhry was quoted as saying. The minister stated that record incentives were being offered compared to other national ports, adding that the new tariffs were expected to substantially reduce operational costs for shipping lines.

He further said that implementation of the policy to develop Gwadar as a regional logistics hub had commenced, with expectations of increased cargo handling at the port and an acceleration of economic activity, alongside new employment opportunities and expansion in the logistics sector.

A day earlier, Gwadar Port Authority (GPA) Chairman Noorul Haq Baloch said that amid rising tensions in the Strait of Hormuz, the strategic importance of Gwadar Port had significantly increased due to its shorter access routes to Iran and Central Asia, along with investor-friendly incentives.

During a meeting with members of the All Pakistan Shipping Association (APSA) in Karachi, he said the port was increasingly being viewed as a safe alternative trade gateway for the region.

He said Gwadar had the potential to become the future hub of regional trade and logistics because of its low operational costs, modern facilities, and shorter trade routes. He added that the Gabd-Rimdan border route had emerged as an effective multi-modal corridor for promoting trade with Iran and Central Asia.

Earlier this month, Baloch also said that four transshipment shops were recorded at the port during April, indicating Gwadar’s growing importance as an alternative trade route in the region.