- The SIFC also played a key role in promoting exports, explains an official of the maritime ministry.
- The manager says that supporting the SIFC in coordinating the Export policies’ exemption is liable to a new management.
- Other industries oriented towards export to the future can be linked to the leather and the treatment of minerals.
Islamabad: Gwadar Free Zone products exports (GFZ) should start, playing a pivotal role not only in the operation of the port on a lasting basis, but also to make breakthroughs on the international market, The news reported.
A senior official of the maritime ministry said The news: “The Special Investment Facilitation Council (SIFC) also played a key role in promoting exports of the free area of Gwadar.”
The ECC discussed a summary submitted by the Ministry of Maritime Affairs concerning the export of potassium sulfate fertilizer from the port of Gwadar.
He approved the exemption from M / S Agive Private Limited, operating in the free area of Gwadar North to export potassium sulfate fertilizers up to 10,000 tonnes per year or 50 pc of actual production, which is lower until December 2025.
The approval by ECC to allow the export of potassium sulfate fertilizers is revolutionary in its nature. It will not only help launch GFZ exports, but will also encourage other companies to invest in the area.
The manager said that the support of the SIFC in coordinating the exporting order of export policies for GFZ is a step in a new direction. Export companies will be encouraged to examine the installations available in the GFZ and Gwadar port.
“The decision supports the development of the free area of Gwadar while ensuring regulatory monitoring through shipping limits and data monitoring mechanisms,” said the manager.
According to Samad Khan, CEO of Agven PVT Limited, exports in 2025 will be about $ 7 million in this single plant. In the future, with higher export approval, expansion in the Agven factory and other investors in potassium sulphate, exports can extend to around $ 80 million in 2 to 3 years.
The manager of the maritime ministry said that other export -oriented industries may consider the free area of Gwadar in the future could also be linked to the treatment of leather and the treatment of minerals.
To a question, he said that Agven is the first Gwadar Free Zone manufacturing plant. Previously, two Chinese companies have exported animal skins and sorted the metal scrap towards GFZ China.
AGVEN’s first export will start in April. “Currently, we are waiting for SRO / Notification of the export authorization, and we expect this to be issued in April next month,” he said.
“We have the interest in exporting potassium sulfate to Brazil and the United Arab Emirates. We therefore expect the first two orders going to said destinations. We also expect to export to Kenya, ”he informed.
AGVEN is the only GFZ industrial manufacturing plant to date. Another unit is created by a Chinese company for the export of processed animal skins. But it is not yet complete.