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ECNEC Approves Development of Gwadar International Airport

Islamabad: According to the most recent news sources, the Executive Committee of the National Economic Council (ECNEC) has authorized the construction of the New Gwadar International Airport (NGIA) at the cost of PKR 57.298 billion.

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Additionally, the council has requested that the Pakistan Civil Aviation Authority (PCAA) prepare an energy plan for the airport within three months.

According to the details, the ECNEC was informed that the Central Development Working Party (CDWP) had reviewed the project during a September meeting, at which point it was submitted for ECNEC approval at the cost of PKR 51.298 billion, which included a Foreign Exchange Component (FEC) of PKR 34.471 billion.

Read: Why to Invest in Rudn Enclave?

According to the reports, the following will provide funding for the project:

  1. PCAA will contribute 750 million PKR
  2. The PSDP will contribute 16,078 billion Pakistani Rupees.
  3. A grant of PKR 33,827 billion will be granted by China
  4. PKR 643,063 have already been provided by the Omani Grant.

For more updates, stay tuned to Al Sadat Marketing.

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