By 2050, the Gwadar’s smart port city’s contribution to the Gross Domestic Product (GDP) of Pakistan will increase up to US$200 billion to $300 billion. The contribution of Gwadar to the economy of Pakistan will rise up to $6 billion in 2025 and $24 billion by 2035 as per the forecast by the ministry of planning and development.
The per capita income of the Gwadar city citizens will be around $2,000 in 2025 and it will increase to $4,000 by 2035. The per capita income will further surge to almost $10,000 to $15,000 as per the long term forecast.
China Pakistan Economic Corridor (CPEC) is a multibillion-dollar project between China and Pakistan. Gwadar Smart Port City Master Plan is its most important part. Once completed and operation it will completely transform the Gwadar port city into a center of commercial activity and industrialization. Once the project is up & running it will provide employment to the locals and foreigners.
It is expected that in the short term the employed population will be from 9,000 to 12,000. In the medium term, it will be from 24,000 to 30,000 while in the long term it will be from 100,000 to 120,000.
The labor participation will enhance and Gwadar port city will become an efficient and productive city of Pakistan.
It was back in 2006 that the Master Plan of Gwadar was developed. Due to the lack of interests of the previous governments and different flaws the project got delayed. But this year on 23rd August the final approval to the Master Plan was given by the governing body of the Gwadar Development Authority. Also, the feasibility study (PC-II) for implementation of the Gwadar Smart Port City Master Plan was also approved.
Must read: China to Develop 19 Factories in Gwadar