This is a very valuable overview of Gwadar’s development as part of the China-Pakistan Economic Corridor (CPEC). Some excerpts:
“
Gwadar processes almost no cargo that could generate income for Pakistan — or, for that matter, for the Chinese operating company. And it’s no wonder: Gwadar is operating at very limited capacity. The port’s three berths, where loading and unloading takes place, can handle 137,000 standard 20-foot shipping containers per year. In contrast, Karachi and its 33 berths can handle the equivalent of 4.2 million 20-foot containers per year.
While ports like Kribi or Lekki are comparatively small, they outshine Gwadar, the supposed new centerpiece of trade for South and Central Asia. . . .
Mardell and Khalid said that behind the scenes, both Pakistan and China have become disillusioned with the project.
“Jobs promises were not met. Industrial promises were not met. The business opportunities for Pakistanis were not met,” said Khalid. “They [China] promised nine special economic zones. Not one is fully functional to date.” . . ..
Still, countries like Pakistan are now stuck paying back large amounts of debt to Chinese lenders. “Pakistan has to pay billions of dollars back in loans, because of reckless investments in the name of CPEC,” said Khalid.”
