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  • Dec, 26th, 24

XINHUA-PAKISTAN SERVICE

Chinese envoy clarifies misperception about Gwadar free zoneBreaking

November 28, 2017

  ISLAMABAD, Nov. 28 (INP): Deputy Head of Mission of the Chinese embassy Lijan Zhao here rejected the impression that the Chinese companies will get 91 percent profit out of the Gwadar economic free zone. This is totally misperception. The port is under operational stage, and the question of profit does not arise. It is being built on the basis of Build, operate and transfer (BOT). Meanwhile, an employee of the Chinese company that is developing the Gwadar port and the Gwadar Free Zone in Pakistan said that the company has fully considered the interests of Pakistani side and has also agreed to share revenues from those projects although it wasn't originally required to do so. The employee from the China Overseas Ports Holding Co (COPHC) said the company had agreed to turn over 9 percent of the revenues from the Gwadar port as well as 15 percent of the revenues from the Gwadar Free Zone to the Pakistani side. INP/J/AH