China will receive 91pc revenues from Gwadar port for 40 years

ISLAMABAD:  China will receive 91 percent of the revenues set to be received from Gwadar Port and 9pc will go to Gwadar Port Authority (GPA) for a period of 40 years, the Senate was informed on Friday.

The details were shared by Federal Minister for Ports and Shipping Mir Hasil Bizenjo with senators after they showed their worries over concealment over China-Pakistan Economic Corridor (CPEC) long-term agreement, reported Dawn.

Bizenjo said the agreement was reached on build-operate and transfer model negotiated for a period of 40 years. PML-N’s Senator Kalsoom Parveen of PML-N said agreement had not been inked on basis of parity as had been done with India, she said.

Parveen asked Chairman Senate Raza Rabbani to call for a meeting in which all related departments which signed the agreement should be present. On this request, Rabbani highlighted about the presence of two committees in relation to CPEC, a parliamentary panel and senate committee.

Rabbani asked Parveen to take up this issue with Senate committee on CPEC. Pakhtunkhwa Milli Awami Party (PkMAP) Senator Sardar Azam Musakhel decried that no chairman of the two committees was from Balochistan and accused that China had been provided a concession.

And Pakistan Tehreek-i-Insaf (PTI) Senator Mohsin Aziz, said the involvement of business community was a must in inking of such business dealings, a task which be believed shouldn’t be left to bureaucrats.

PML-N Senator Javed Abbasi said CPEC would offer immense benefits to Pakistan and defended the agreement. He said power projects under CPEC would resolve Pakistan’s energy crisis and several are being established in Sind and Balochistan.