Gwadar Port set to process 4,50,000 metric tons of wheat import
GWADAR, Dec 15 (Gwadar Pro) - Gwadar Port is formally empowered to handle and process 4,50,000 metric tons import of wheat as an official agreement between the Trading Corporation of Pakistan (TCP) and Gwadar International Terminal Limited (GITL) has been inked, opening a new chapter of high-octane logistic activities. The first wheat consignment is highly likely to come from 25th December, 2022 at Gwadar Port. As per the agreement, the formal processing timeframe will be between 1st February 2023 to 31st March 2023.
This deal is a leapfrog toward the optimisation of Gwadar port’s innate potential as a logistic hub in the region that will ultimately contribute US$10 billion of GDP to the economy of Pakistan.
GITL official told Gwadar Pro that TCP and GITL sealed the accord on 9th December. Later, on December 13, an important meeting was held with the participation of all stakeholders and discussed operational mechanisms for the import of wheat, he added. The meeting expressed, he said, satisfaction over the existing import procedures and modalities. The meeting also jointly agreed on not seeking any additional modification to make things happen, he mentioned. It is expected that Gwadar port will receive the first consignment of wheat from 25th December, GITL sources said.
The Economic Coordination Committee (ECC) of the cabinet already approved the lowest bids of a Russian company for the import of 45000 metric tonnes of wheat through Gwadar ports. Federal Finance and Revenue Minister Senator Mohammad Ishaq Dar presided over the meeting of the Economic Coordination Committee (ECC) of the cabinet.
National Food Security and Research Ministry submitted a summary on the Award of 7th International Wheat Tender 2022 opened on 30th November, 2022. Keeping in view the results of the 7th International tender and G2G offer, ECC approved the lowest bid from M/s Prodintorg Russia of $ 372/MT on a G2G basis for the supply of 450,000 metric tons at Gwadar Port for a shipment period from 1st February, 2023 to 31st March, 2023.
It was decided that any additional cost on inland transportation from Gwadar Port will be borne by PASSCO to be recovered from provinces at the time of the release of wheat stock.
Wheat imports via Gwadar promise to usher in a new era of business, commerce and trade vibrancy at Gwadar port.
GPA official dubbed the readiness to import wheat using Gwadar port a new milestone saying wheat import will spur up trade activities in Gwadar. “It will also boost employability as when bustling activities get underway, skilled, semi-skilled and unskilled man force will be required to handle the entire scale of work,” he added.
In 2020, the federal government already allowed the import of wheat, at the Gwadar Port and onward transit to Afghanistan through bonded carriers- insured and sealable trucks having a tracking device.
The Ministry of Commerce (MoC), on the request of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), the Pakistan-Afghanistan Joint Chamber of Commerce and Industry (PAJCCI), the Gwadar International Terminals Limited and other stakeholders, issued an Office Memorandum (MO) titled ‘Implementation of the import and export policy orders through shipping procedure and instructions for operationalisation of the Gwadar Port’.