Gwadar Free Zone has become practically operational with the first consignment clearance by Pakistan Customs, said the Federal Board of Revenue (FBR).
In a bid to boost Pakistan’s boost exports and trade, Pakistan Customs facilitated the clearance of the first import-cum-export consignment by M/s HK Sun Corporation limited, which will be further processed in Gwadar Free Zone established under China-Pakistan Economic Corridor (CPEC) and later on items will be exported from Pakistan, said a statement.
The first consignment consisting of metal scrap was processed and cleared by the Model Customs Collectorate, (A&F) West, Karachi and goods reached Gwadar Free Zone regulated by Model Customs Collectorate Gwadar.
More shipments of raw material of the same company are under way to Pakistan which will be further used in manufacturing of goods to be exported.
M/s. HK Sun Corporation is the first enterprise which has started manufacturing and processing activity in the free zone followed by other investors to contribute in the development of the first ever free zone of the country established in Gwadar under the CPEC.
According to the concession agreement signed between China Overseas Ports Holding Company (COPHC) and Gwadar Port Authority (GPA), the development and operation of Gwadar free zone is being performed by COPHC—TLTP