The Gwadar port, being developed by the China Overseas Ports Holding Company Limited (COPHCL), offers numerous opportunities for socio-economic development of Pakistan. The Senate Finance Committee has unanimously approved the tax concessions proposed for Gwadar Port and Gwadar Free Zone in Finance Bill 2020-21. According to the tax concession agreement, the concession holder and its contractors and lenders will have 20-year tax holiday. The concession would accelerate the Gwadar Port and its Free Zone operations. It would further uplift the livelihood of locals by offering socio-economic development opportunities.
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