Gwadar Port Authority: Amendments to customs law approved by Senate body

The Senate Standing Committee on Finance on Tuesday approved amendments to the Customs Act 1969 pertaining to the Gwadar Port Authority.

The Senate Standing Committee on Finance held an in-camera meeting to exclusively consider the proposed changes and amendments – the Customs Act 1969, related to Gwadar Port Authority in the light of Concession Agreement between Gwadar Port Authority and the PSA Gwadar Private Limited in 2007 as well as the Transfer and Assignment Agreement extended between Gwadar Port Authority, the PSA Gwadar Private Limited, and the Chinese Overseas Ports Holding Company Ltd in 2013.

Senator Farooq Naek, chairman of the Standing Committee, briefed the committee in detail about the terms and conditions of both the agreements.

The committee after a discussion unanimously recommended and approved these amendments in the Customs Act 1969, as they fall within the ambit of Agreement of Law.

Senator Farooq Naek said the committee holds the people of Balochistan, especially those of Gwadar, in the highest esteem and it is of the view that rapid development to take place over there will bring prosperity to the people of Balochistan.

On June 18, members of the finance committee expressed displeasure after a federal secretary refused to share the copies of contracts pertaining to the Gwadar Port, as the official termed the reports “confidential”.

The Senate Standing Committee on Finance under the chairmanship of Senator Farooq Hamid Naek had sought a list of contractors and sub-contractors working at the Gwadar Port from the Ministry of Maritime Affairs for a discussion during an in-camera meeting of the committee.

Naek stated, “Entire Finance Committee strongly supports development of Gwadar Port and Balochistan as it is a gateway to Central Asian countries and would unleash development with the help of China-Pakistan Economic Corridor project.”
Source: Business Record

Leave A Reply

Your email address will not be published. Required fields are marked *