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China to get 91pc Gwadar income, minister tells Senate

ISLAMABAD: The Senate was told on Friday that 91 per cent of the revenues to be generated from the Gwadar port as part of the China-Pakistan Econo­mic Corridor (CPEC) would go to China, while the Gwadar Port Authority would get 9pc share in the income for the next 40 years.

This was disclosed by Federal Minister for Ports and Shipping Mir Hasil Bizenjo after senators expressed concern over the secrecy surrounding the CPEC long-term agreement plan, with many observing that the agreement tilted heavily in China’s favour.

The minister said that the agreement was based on a build-operate and transfer model spread over 40 years. That means that Pakistan will take over the operation of the port along with the infrastructure to be built on it during the period to enhance the port’s cargo-handling capacity.

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