The projected special economic area (SED) is anticipated to acquire tax-free status under the Gwadar Smart Port City Master Plan.
Under the master plan, the Gwadar Development Authority (GDA) has prepared a draught to obtain tax-free status for the proposed SED for a period of 30-35 years.
The proposal intends to offer international investors and merchants with the same perks and incentives as local enterprises in special economic zones around the country.
Abdul Razzaq, a GDA official, said the draught had been sent to higher authorities for review.
He anticipated that its ratification will provide a common ground for the local business sector to thrive.
According to the official, the governance model in terms of micro-detailed planning was undergoing rigorous brainstorming sessions by government officials under the Gwadar Smart Port City Master Plan, which was publicly launched in February 2020.