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During the last 3 years, 91% of revenue generated from Gwadar port went to China

By Eminraja

According to a recent report by Gwadar port (revealed by CPEC info), 91% of the revenue generated from Gwadar went to China. In the last three years, the economic activity at the hot water port has seen a rise.

As per the report, the port generated Rs. 358.151 million ever since the inception of the project in 2016. Out of the revenue generated, GPA (Gwadar Port Authority) received only Rs. 32.324 million over the span of three years. (~ source: cpecinfo.com) 

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The port is yet not fully functional but is still producing sustainable income for both China and Pakistan. As per the details of the agreement issued by the Ministry of Maritime Affairs, China Overseas Ports Holding enjoys the lion’s share of 91 per cent share in Gwadar International Terminal.

On the other hand, Gwadar Marine Services while Gwadar Port Authority holds only 9 per cent share. However, GPA (Gwadar Port Authority) enjoys only 15 per cent share in the Gwadar Free Zone.

Also See: Pakistan Needs To Pay $40b on $26.5b CPEC investments To China In Next 20 years

The ministry’s report also further revealed that the port concession agreements all around the world determine revenue sharing between port authorities and port operations. It assured that same principle applies in Gwadar Port Concession Agreement.

Back in 2017, when senators expressed concern over the secrecy surrounding the CPEC long-term agreement plan and argued that it is heavily tilted in China’s favour, Federal Minister for Ports and Shipping Mir Hasil Bizenjo informed the Senate that Gwadar Port Authority is to receive 9% of the share while China to receive 91%.
He said that the agreement was finalized via a build-operate and transfer model spread over 40 years time span. It meant that Pakistan will take charge of the operations of the port as well as the infrastructure to be built on it during the said period of time to enhance the port’s cargo-handling capacity.
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