ISLAMABAD: The Executive Committee of the National Economic Council (ECNEC) on Wednesday approved the New Gwadar International Airport (NGIA) 2nd revised project worth Rs 51,298.175 million.
On Monday, the government approved the New Gwadar International Airport project in principle, costing Rs55.4 billion, or nearly 147% more than the initial revision, and permitted a reduction in the scope of a major Gwadar road program.
The decisions were taken by the Central Development Working Party (CDWP), which is in charge of reviewing, endorsing, and forwarding major development projects for the Executive Committee of the National Economic Council’s (Ecnec) final ratification. The CDWP meeting was chaired by Jehanzeb Khan, the deputy chairman of the Planning Commission.
The CDWP took on the project of constructing the New Gwadar International Airport, which would be funded by the Chinese donation of 1.52 billion yuan, or Rs34 billion, as well as the government of Pakistan. The project would come with a 55.4 billion rupee price tag.
It is believed that the future Gwadar airport will be crucial to the development of Gwadar Port and its free zone. Now that the China-Pakistan Economic Corridor (CPEC) Authority law has expired four months ago, the Ministry of Planning is gradually taking over authority of the CPEC.
Furthermore, the government has appointed Hassan Dawood Butt as the new chairman of the CPEC Joint Cooperation Committee (JCC). The future course of the multibillion-dollar strategic bilateral project will be largely determined at this.
The Rs17.7 billion Solid Waste Emergency and Efficiency Project was referred to Ecnec. The intervention will be financed by the project and carried out in two stages.
The meeting approved the construction of a new, Rs4.4 billion Supreme Court Branch registry facility in Karachi.
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