ISLAMABAD, June 7: The government has already declared the under-construction port of Gwadar a special economic zone and details of this step will be released in the next few months.

“The work on this project (Gwadar port) will be completed by the end of next year through the cooperation of friendly neighbor China”, said finance minister while laying the federal budget 2003-04 before the national assembly.

The government, he said, has also declared the port as a special economic zone.

All imports coming through this zone would be exempted from customs duty and sales tax, along with sufficient concessions on income tax, he said.—APP