Islamabad dumps the PSA and signs an agreement with China to run Gwader.
Pakistan has suffered from the incompetence of the Singaporean Port Authority and has decided to pull the plug on them. Islamabad has also decided to is transfer operational control of its strategically important Gwadar Port from Singapore’s PSA International to a Chinese company. This was reported in the Financial Times on Friday quoted a minister as saying.
Analysts, sources in the military, and Pakistani officials said strategic as well as commercial interests played a part in the dumping the PSA which had promised to spend $80 billion on the port. Full story
