A recent report on Gwadar’s port has shown that most of the revenue generated by the hot water port over the past three years has gone to China.
According to the report, the port generates Rs. 358151 million since the project started in 2016. From the Gwadar Port Authority (GPA) only Rs received. 32,324 million in three years.
91% of Gwadar’s Port Revenue Has Gone to China Over Past 3 Years
Keep in mind that the project is not yet fully functional, so it generates a good amount of revenue for both China and Pakistan.
According to details provided by the Ministry of Maritime Affairs on Thursday, China Overseas Port Holding owns 91 percent stake in the international terminals of Gwadar and Maritime Services Gwadar, while Gwadar’s port authority has only 9 percent. WHEREAS the participation of GPA in the free area of Gwadar is only 15 percent.
The ministry report also reported that port concession agreements worldwide determine part of revenue between port authorities and port operations and the same principle applies in the Gwadar Port franchise agreement.