Pakistan Customs Clears First Consignment For Gwadar Free Zone
Sumaira FH Published April 07, 2021 | 10:29 PM
In line with the vision and directives of the Prime Minister of Pakistan to boost exports and trade, Pakistan Customs has facilitated the clearance of the first import cum export consignment by M/s HK Sun Corporation limited for Gwadar Free Zone
ISLAMABAD, (UrduPoint / Pakistan Point News - 7th Apr, 2021 ) :In line with the vision and directives of the Prime Minister of Pakistan to boost exports and trade, Pakistan Customs has facilitated the clearance of the first import cum export consignment by M/s HK Sun Corporation limited for Gwadar Free Zone.
The consignment would be further processed in Gwadar Free Zone, established under China Pakistan Economic Corridor (CPEC) and later on items would be exported from Pakistan, said an FBR press statement issued here.
The first consignment consisting of metal scrap was processed and cleared by the Model Customs Collectorate, (A&F) West, Karachi and goods reached Gwadar Free Zone regulated by Model Customs Collectorate Gwadar.
More shipments of raw material of the same company are under way to Pakistan which will be further used in manufacturing of goods to be exported.
M/s HK Sun Corporation is the first enterprise which has started manufacturing and processing activity in the free zone followed by other investors to contribute in the development of first ever free zone of country established in Gwadar Baluchistan under CPEC.
According to the concession agreement signed between China Overseas Ports Holding Company (COPHC) and Gwadar Port Authority (GPA), the development and operation of Gwadar free zone is being performed by COPHC.
The planned development period is from 2015 to 2030, which is divided into four phases.
With import of the current consignment, the Gwadar Free Zone has practically become operational leading to the development of other economic zones under CPEC in Pakistan.
The free zone would integrate and strengthen the linkage of industries between China and Pakistan. The free zone is positioned as economic development engine of Gwadar aiming to transform international trade logistics hub under CPEC.
The project would create employment opportunities for local population; and will play a role of catalyst for economic growth and development of country.
The statement added that FBR was committed to achieve the vision of Prime Minister and was taking such landmark steps to facilitate and provide support for swift clearance of Free Zone Cargo to prevent any possibility of loss or hardship to the export industry.
Such steps shall boost exports and would result in trade facilitation by ensuring competitiveness of our exported goods in international markets.
Related Topics
Recent Stories
Mirpur Police arrest 68 suspects of food outlet attack
Ecuador mayor killed ahead of anti-crime referendum: police
Flooding on Chitral-Peshawar Highway strands travelers
Bilawal Bhutto demands govt to hold tripartite dialogue to curb terrorism
Punjab ombudsman facilitates over 1.36 crore payment to victims
Croatia top court bars president from becoming next PM
Leghari seeks KP Govt’s cooperation in anti-power theft campaign
Sehwan Development Authority's staff protests against non-payment of salaries
DIG directs SSPs to take unrelenting action against organized crimes
Govt committed to provide relief to poor people: Khawaja Asif
Pakistan aims to agree outline of new IMF loan in May - Finance Minister
Pakistan's indigenous products can enter global market: Experts
More Stories From Business
-
Pakistan aims to agree outline of new IMF loan in May - Finance Minister
49 minutes ago -
FTO commends FBR's role for prompt resolution of tax payers’ issues
49 minutes ago -
BISP embraces E-procurement: launches inaugural tender
3 hours ago -
Business community indebted to Ahsan Zafar for his unprecedented services: Yousuf Rajput
3 hours ago -
China auto sector steps up Europe push with Spain plant
3 hours ago -
Condolence reference held in memory of FBR's officials
4 hours ago
-
Health activists ring alarm bells over 10-stick cigarette pack
5 hours ago -
Karachi receives maiden direct flight of Azerbaijan Airlines from Baku
5 hours ago -
PSX turns bullish, gains 619 points
5 hours ago -
Rupee bounces back; gains 13 paisa against dollar
5 hours ago -
Partners join hands for alternate use of marble, granite slury
5 hours ago -
Tokyo's Nikkei index tumbles 3% in morning trade
7 hours ago