Federal Budget 2023-24: Rs. 5 billion earmarked for New Gwadar International Airport
GWADAR, Jun.10 (Gwadar Pro)- Pakistan’s new Federal budget 2023-24 has allocated about Rs. 5 billion in the total cost of New Gwadar International Airport (NGIA). With the allocation, NGIA’s total cost will be increased from Rs. 55.4 billion to Rs 60.208 billion.
Ministry of planning has already approved the Rs. 5 billion in the meeting of Central Development Working Committee (CDWP), high-powered government decision-making body, on June 02 in Islamabad.
The government had originally sanctioned the project’s construction at a cost of PKR 7.5 billion in 2010. The first revision of PKR 22.5 billion was approved in 2015. Second revision occurred with revised PC-I at a cost to Rs 51.298 billion in December 2021. Later Rs 55.4 billion was greenlighted October 12, 2020.
The NGIA will play a pivotal role in establishing Gwadar's strategic importance, meeting the forecasted increase in aviation activity, and supporting the China-Pakistan Economic Corridor.
In relation to the New Gwadar International Airport (NGIA) project, the Planning Minister emphasized the importance of providing ample job opportunities to the local population of Gwadar. Furthermore, he emphasized that special attention should be given to prioritizing and expediting the completion of critical components of the Gwadar Airport project.