Govt Allocates Heavy Budget for Gwadar – An Important Step To Attract More Investors
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Islamabad: In the first historic budget 2019-2020 presented by the federal government of PTI, they have allocated PKR 4 billion for uplift projects in Gwadar. It happens for the first time that any government has allocated such a heavy budget for the development and completion of different projects in Gwadar. According to our sources, the allocated funds will help to develop the port city through the construction of International Airport, Railway Corridor, Desalination Plant, Fish Landing Jetty, and different other major projects.
Funds for New Gwadar International Airport
Government has allocated PKR 555 million for the construction of New Gwadar International Airport. PKR 200 million will be sourced from foreign aid. On January 12, 2015, the project of Gwadar International Airport was approved by Executive Committee of National Economic Council (ECNEC), and the probable cost for the completion of this project is set to be Rs 22,247 million.
Funds Allocated For Different Major Projects
To buy/get land for the railway corridor from the seaport, the government has signed a budget of PKR 800 million.
PTI Government has brilliantly planned the budget of Gwadar as they have also assigned PKR 50 million for the Gwadar Safe City Project Phase-I.
In this budget 2019-2020, Government has allocated PKR 100 million for the Gwadar Smart Environmental & Sanitation System and Landfill.
Additionally, 400 million PKR for a seawater desalination plant with a capacity of five million gallons of water per day.
For the structure of a fish landing jetty and allied port facilities, the Federal government has assigned a budget of PKR 172 million. It will be constructed at Pishukan.
In the Federal Budget 2019-20, the government has also assigned funds for the following development projects:
• There are PKR 20 million for animal quarantine & PKR 200 million for Modern Custom Collectorate
• PKR 200 million for development of Break Water Groyne Wall and allied work at Eastbay (Demizer)
• To uplift the Pak-China Technical & Vocational Institute, there are PKR 425.5 million are in the store.
• And to construct the Senior Superintendent Police Lines Headquarter for National Highway & Motorway Police, the government has allocated a budget of PKR 88 million.
Gwadar Budget & Real Estate
As in the budget 2019-2020, Taxes are increased in many sectors whereas others got relief. Overall, the current budget is grief for real estate, but, in Gwadar, the federal government has worked very well. A huge budget of PKR 4 billion is allocated for different uplift projects. These allocated funds will boost up the development speed of ongoing projects. As fast as the development work moves, more and more investors will attract to it.
Gwadar is already become an attractive option for both national and overseas investors due to CPEC. And at the same time, different new and modern housing societies are also developing in it, so it will be nothing wrong to consider it a complete package. Investing in Gwadar will worth every single rupee you invest in it. So this is the right time for investment and avails the golden opportunity that attracts you the most before it’s too late.