On Monday, the Government adopted the New Gwadar International Airport project at an increase of Rs51,3 billion, representing a 138% rise in building prices over the next five years as progress on a significant Chinese-Pakistan Economic Corridor (CPEC) programme is proceeding slowly.
The CDWP decided to modify the project costs upwards. This decision was taken. The CDWP meeting was headed by Deputy Chairman Jehanzeb Khan.
The body shall examine and approve development schemes and report to the Executive Committee of the National Economic Council mega-projects for final ratification (Ecnec).
According to a Ministry of Planning statement, the “New Gwadar International Airport (NGIA) second revision of Rs51.3 billion has been referred to the Ecnec for further consideration.”
The Aviation Division has filed the project’s second updated PC-1 to revise the scope and cost of the ASF camp and CAA residential building to be funded and executed by the Pakistan side, it noted.
The CDWP approved the Gwadar airport as an ongoing project, with the instructions to “examine PSDP standards while keeping in mind the limited development portfolio and potential earnings to the country.”
The Public Sector Development Program will expend Rs18,1 billion out of the Rs51,3 billion while China would make available the balance Rs33,8 billion. The Chinese grant for the project amounts to 1.52 billion yuan or Rs34 billion. Oman also donated a project subsidy of $17.5 million.