The lifting of the ban on construction and development works in Gwadar is welcome. This initiative of Gwadar Development Authority will promote construction activities in Gwadar which will not only speed up the work of construction industries but also support the small scale industries associated with it which will prove to be a source of economic growth. The current situation is that the real estate business has come to a standstill all over Pakistan but Gwadar is the only region where land is being traded and the sale and purchase of land is going on rapidly after all the societies get NOCs. The Director General of Gwadar Development Authority is determined that Gwadar should look like Singapore in 2 years.
Now that construction has resumed, investor interest has picked up again and they are increasingly attracted to investing. I think Gwadar’s activation will benefit of Pakistan’s economy. This will happen and with the operation of Gwadar Port, Pakistan will get 30 billion in revenue. If Gwadar is kept active for 10 years, then health education and utility bills in Pakistan can be free and we will see amazing results. Of course, this move will lead to the economic revolution of Pakistan and it will be the economic revolution that the people of Pakistan have been eagerly waiting for. I think that day is coming very soon.
Ocean Marina Gwadar has the capacity to deliver the project in 2 years. Similarly, if all the housing schemes are completed and handed over in the same period, then people will start living there. A free trade zone has been set up in Gwadar. Gwadar Port has been declared a tax free zone till 2038. Duty free has been made on all raw materials. No tax will be levied on import and export of any kind of goods from there. If so, a modest tax will be levied but no sales tax will be levied. Thus, all imported items have been made duty free. GDA is doing well and people have started working there and foreign investors have shown a lot of interest, income tax and value added tax have also been waived, the package will get state guarantee and by 2038 this package Pakistani and foreign investors are investing in Gwadar. All the big industries of Pakistan have gone there. With the commencement of work on Gwadar port, the development of Pakistan will also begin. Where cargo ships are coming from abroad and goods are being re-exported to other countries, the levy is about 30 billion, which is a form of foreign exchange.
Commercial activities are the first priority of the real estate sector, but housing is also important because if factories are set up there, where will people live after work? The activities of the oil refinery sector are about to start in the coming days. Yes, its activation will provide employment to thousands of people and people will come to Gwadar from abroad for business or employment. Because there are few oil refinery experts in Pakistan and more in the world, workers in this sector are not available in Pakistan or even if there are. So there are very few.
After the arrival of Director General Gwadar Development Authority Shahzeb Khan Kakar, the real estate sector in Gwadar has gained momentum once again. The role of Gwadar Development Authority after 15 years is satisfactory. Shahzeb Kakar is very active in real estate. The sector is getting much easier. There are 200 builders in Gwadar including me who have NOCs and they are active. The good thing about Gwadar Development Authority is that it is allowing tall buildings GDA also wants. Housing societies are as many as they are now. After that, GD will also give NOC thoughtfully and no new master plan will come till 2050. Even now, out of 200 housing societies, which are masters? 180 societies are out of the master plan they do not meet the standards. The government will not do any work here till 2050 but the societies will do their work individually. We are not giving priority to the NOCs of housing societies at this time. That there are already so many housing societies, they should be given the opportunity to own it do it fast, keep expanding when people are attracted.
The Prime Minister should also introduce a housing scheme for 5,000 houses in Gwadar Port. This will benefit the common man. Our services are also present for the Prime Minister. If the Prime Minister says so, all the builders are ready to help him in his work. The real estate sector is already in turmoil due to inflation. Cement and cement prices have skyrocketed. Tax rates have also gone up. Small and big industries connected to the real estate sector are suffering. There are reservations and a state of uncertainty. On the other hand, builders are being harassed in an unjust manner. Unnecessary action by law enforcement agencies is discrediting builders and damaging their good reputation. It takes a long time to rebuild after the incident. Harassment of innocent builders has become commonplace. Political pressure is very high in the real estate sector and builders are also being pressured for illegal activities. Should
The real estate sector activities in Karachi are at a standstill at the moment. The activities of Bahria Town, DHA are stagnant. When the activities of big societies are stagnant, what will be the problem of small builders? The Housing Industry will continue to decline until the Prime Minister pays personal attention to this sector. The sector will not be supported unless the Prime Minister pays personal attention to this sector. ? The real estate industry has the highest circulation of money so this sector should not be neglected under any circumstances.