The Executive Committee of Economic Council (ECNEC) in its recent meeting chaired by the Assistant to PM on Finance and Revenue Shaukat Tarin, has approved the Gwadar International Airport Mega Project at a cost of 52.298 billion. It is the revised project of the airport that includes facilities of international standards. The newly conceived project includes the construction of New Gwadar International Airport (NGIA) to replace the existing one with allied services, large terminals, and an enhanced capacity to accommodate huge international air traffic like Airbus A-380 and Boing-747, and Boeing 777. The existing airport has small terminals. Previously ECNEC has completed the Gwadar Eastbay Expressway Project and now recently has approved two other mega projects namely Sialkot Kharian Motorway at a cost of 43.38 billion and the Pakistan Optical Remote Sensing Satellite Project worth 27.914 billion to build up the country’s indigenous capacity in the field of space technology.
The other participants of the ECNEC meeting included Federal Minister for Planning, Development, and Special Initiatives, Mr. Asad Umer, Federal Minister for Industries and Production, Makhdoom Khusroo Bakhtiar, Federal Secretaries and other senior officers from Federal as well as Provincial Government participated in the meeting. The Executive committee also directed the civil aviation authority to develop an energy plan for Gwader Airport in the next three months. It is also to be mentioned here that the approved cost of this project in 2010 was Rs 7.675 billion which in the year 2021 has increased to 51.298 billion.
The Ministry of Planning and Development also briefed the committee that the project has been approved by CDWP in September this year whereby the total cost of the project is Rs 51.298 billion including a Foreign Exchange Component (FEC) of Rs 34.471 billion. It was also informed that the financing of the project includes 16.068 billion from PSDP, Rs 33.827 billion Chinese grant, Rs 750 million from Civil Aviation resources, and Rs 643 million Omani grant. The ECNEC also approved the recommendations of CDWP for compliance whereby the PCAA and Gwadar Development Authority (GDA) would ensure the finance and scope to be executed for the operation of the airport keeping into consideration the security and operational efficiency that conform to the requirements of the International Civil Aviation Organization (ICAO).
