The government approved the New #Gwadar International Airport project at an upward revised cost of Rs51.3 billion, showing an increase of 138% in its construction price within five years amid a slow pace progress on an important #China #Pakistan Economic Corridor (#CPEC) scheme.
The Central Development Working Party (CDWP) took the decision to revise upward the project cost. Planning Commission Deputy Chairman Jehanzeb Khan chaired the CDWP meeting. The body has a mandate to scrutinise and approve development schemes and refer the mega projects for final ratification of the Executive Committee of the National Economic Council (Ecnec).
“New Gwadar International Airport (NGIA) second revision worth Rs51.3 billion referred to the Ecnec for further consideration,” according to the Ministry of Planning handout. The second revised PC-1 of the project had been submitted by the Aviation Division to revise the scope and cost of ASF camp, CAA residential building to be funded and executed by the Pakistan side, it added.
The CDWP accorded go-ahead to the Gwadar airport being an ongoing project with the directions to “review PSDP requirements keeping in view limited development portfolio and future revenues to the country”.
Out of Rs51.3 billion, an amount of Rs18.1 billion is planned to be spent from the Public Sector Development Programme while the remaining Rs33.8 billion will be provided by China. China is providing a grant of 1.52 billion yuan or Rs34 billion for the project. Oman had also given a $17.5 million grant for the project.