Slow investment in Gwadar criticized - Printable Version +- Pakistan Real Estate Times - Pakistan Property News (https://www.pakrealestatetimes.com) +-- Forum: Pakistan Real Estate / Property News (/forumdisplay.php?fid=1) +--- Forum: Latest Pakistan Property & Economic News (/forumdisplay.php?fid=4) +--- Thread: Slow investment in Gwadar criticized (/showthread.php?tid=9593)

Slow investment in Gwadar criticized - LRE - 01-27-2010 07:14 PM GWADAR: Acting Chairman Gwadar Port Authority Ghulam Farooq Baloch has said that 82 ships anchored on Gwadar port during the last three years but Port of Singapore Authority (PSA) could not bring a single ship to the port. He further said that the government has power to amend or cancel the contract with the PSA. He said this during a media briefing in Gwadar on Wednesday. Ghulam Farooq Baloch said that contract of Gwadar port with the PSA has some flaws. The PSA has to invest US $525 million during 5 years but it has invested only US $30 million during the last 3 years. Baloch said that the PSA has been informed about the slow rate of investment. The PSA will build a 4.2 km long birth and container terminal in next 15 years. On the other hand, PSA says that the government promise of completing road network and industrial zone has not been fulfilled and that’s why they are facing difficulties. SAMAA TV