Islamabad: The Federal Board of Revenue (FBR) announced on Wednesday that the Pakistan Customs okayed the very first import-cum-export consignment for Gwadar Free Zone.
The said consignment consists of scrap metal and is being sent by the HK Sun Corporation Ltd. The shipment will be processed in the Gwadar Free Zone established under China-Pakistan Economic Corridor (CPEC) and will be exported from Pakistan later on.
The HK Sun Corporation is the first company to initiate manufacturing and processing in the free zone. Additional shipments of raw materials from the same company are on route to Pakistan and will be used in the manufacture of the goods which will then be exported.
The FBR stated that with the import of the consignment, the Gwadar Free Zone was now in operation and would lead to development of other economic zones under the CPEC umbrella. Moreover, the FBR said that the free zone would strengthen the industrial linkage between China and Pakistan and termed the zone as the economic development engine of Gwadar aiming to transform international trade logistics hub under CPEC.