Islamabad: The federal government has decided to construct a Chamber of Commerce and Industry in Gwadar to boost trade-related activities, news sources reported on July 18. The PKR 500 million project will be executed by the Ministry of Housing & Works.
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According to reports, the decision was revealed by the Member Private Sector Development and Competitiveness (PSD&C) in response to a question from the minister. He stated that due to the poor pace of projects under the Ministry of Commerce, the project’s building has been handed over to the Ministry of Housing and Works for expedited work. It was also reported that the ministry will submit a PC-II of the project with full drawings and work instead of a Project Concept -1 (PC-1).
The Ministry of Commerce, according to the PSD&C member, will contribute funds for the building’s development. On the other hand, the site for the building would be provided by either the Balochistan government or the Gwadar Chamber of Commerce and Industry (GCCI).
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It is vital to note that the GCCI building is planned to act as a key centre for the port city’s industrial and commerce growth. Because Gwadar is also the hub of the China-Pakistan Economic Corridor (CPEC), the GCCI is projected to take centre stage in the port city’s economic activities.