Islamabad: The federal government operated Executive Committee of National Economic Council (ECNEC) has approved the development of New Gwadar International Airport (NGIA) at the revised cost of PKR 57.298 billion, according to news sources.
The development of NGIA was approved by the Executive Committee of the National Economic Council (ECNEC), which has also ordered the Pakistan Civil Aviation Authority (PCCA) to come up with an energy plan for the airport in three months’ time. The ECNEC was briefed that the project was considered by the Central Development Working Party (CDWP) in a meeting held in September, where it subjected the project to ECNEC’s approval at PKR 51.298 billion – which includes Foreign Exchange Component (FEC) of PKR 34.471 billion.
Previously, the project was approved by ECNEC on January 21, 2020, at the cost estimated of PKR 7.675 billion, which includes Omani Grant of USD 17.50 million. However, upon review, the scope of work was increased substantially and later CDWP reviewed the project, modified the second version of the revised PC-I and submitted the project for the ECNEC’s approval. Presently, the ECNEC has approved the project alongside the recommendations of the CDWP for compliance. The financing of the airport will be offered as follows:
PKR 16.078 billion will be provided by the PSDP
PKR 750 million will be provided by PCAA
PKR 643.063 have been already provided by Omani Grant
PKR 33.827 billion are to be offered under a Chinese grant
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