Govt Plans to Build New Gawadar Airport for CPEC Projects
The government approved the New Gwadar International Airport project at an increased cost of Rs 51,3 billion, signifying a 138% increase in construction costs over the next five years due to the delayed progress of a large Chinese-Pakistani Economic Corridor (CPEC) initiative.
The CDWP opted to increase the project’s budget. This decision has been made. Deputy Chairman Jehanzeb Khan presided over the CDWP meeting.
The group shall study and approve development plans and report megaprojects for final approval to the Executive Committee of the National Economic Council (Ecnec).
It was reported that the Aviation Division had submitted the second amended PC-1 for the project in order to adjust the scope and cost of the ASF camp and CAA residential building to be funded and executed by Pakistan.
The Public Sector Development Program will expend 18,1 billion rupees of the 51,3 billion rupees, while China will provide the remaining 33,8 billion rupees. The Chinese grant for the project is 1.52 billion yuan, or approximately 34 billion rupees. Oman also gave a $17.5 million project subsidy.
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