rs. 5 billion earmarked for new gwadar international airport in 2023, al sadat marketing, real estate agency in blue area, blue area islamabad

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RS. 5 Billion Earmarked for New Gwadar International Airport

The cost of the New Gwadar International Airport (NGIA) has been allocated around Rs. 5 billion in Pakistan’s new federal budget for 2023–24. The funding will result in an increase in the overall cost of NGIA from Rs. 55.4 billion to Rs.   

According to a report by Gwadar Pro on Saturday, the Ministry of Planning has already given the go-ahead for the Rs. 5 billion at the Central Development Working Committee (CDWP) meeting on June 2 in Islamabad.

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In 2010, the government approved the project’s construction at a cost of PKR 7.5 billion. In 2015, the PKR 22.5 billion initial revision was approved.

In December 2021, redesigned PC-I had a second revision at a cost of Rs 51.298 billion. Later, on October 12, 2020, Rs 55.4 billion received the go-ahead.

In order to establish Gwadar’s strategic significance, meet the anticipated rise in aviation activity, and assist the China-Pakistan Economic Corridor, the NGIA will be crucial.

Read More: Govt Approves Over 160 Road Projects in Upcoming Budget

The Planning Minister emphasised the significance of offering plenty of work opportunities to the local Gwadar populace in relation to the New Gwadar International Airport (NGIA) project. Additionally, he emphasised that the completion of crucial parts of the Gwadar Airport project should be prioritised and accelerated.

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