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ISLAMABAD: The government on Monday approved, in principle, the New Gwadar International Airport project at a cost of Rs55.4 billion, about 147% higher than the first revision, and also sanctioned a reduction in the scope of an important Gwadar road scheme. The decisions were taken by the Central Development Working Party (CDWP) - a body having the mandate to scrutinize and approve development schemes and refer the mega ones for final ratification of the Executive Committee of National Economic Council (Ecnec). Planning Commission Deputy Chairman Jehanzeb Khan chaired the CDWP meeting. The CDWP took up the New Gwadar International Airport project, which would be built with the help of Pakistan government funds and a Chinese grant of 1.52 billion yuan or Rs34 billion. The total cost of the project is Rs55.4 billion. The new Gwadar airport is considered important for the development of Gwadar Port and its free zone. The Ministry of Planning is now gradually taking back the control of the China-Pakistan Economic Corridor (CPEC) after the CPEC Authority law lapsed four months ago. The government has also brought back Hassan Dawood Butt to handle affairs in the next CPEC Joint Cooperation Committee (JCC) meeting. JCC is scheduled to meet this month and will take important decisions on the future roadmap of the multibillion-dollar strategic bilateral initiative. Butt had earlier been the deputy project director of the CPEC support project but moved to Khyber-Pakhtunkhwa Board of Investment. The original Gwadar airport project had been approved at a cost of Rs7.5 billion in 2010 and the revised one was cleared in 2015 at a cost of Rs22.2 billion. The CDWP approved the second revision on Monday with a cost of Rs55.4 billion, higher by Rs33 billion or 147% than the 2015 cost. A key reason behind the increase in cost was that the new plan was based on a detailed design of the project. The CDWP directed the Civil Aviation Authority (CAA) to review the possibility of c

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China is planning a considerable expansion of its foreign aid programs with a particular focus on infrastructure projects in countries along the land and maritime Silk Road trading routes, government officials said on Monday. The country is planning to initiate a number of strategically important aid projects to help improve transportation, energy and telecommunications in those countries, according to the Ministry of Commerce, which is responsible for administrating the country's foreign aid programs. Projects involving construction and improvement of roads, railways, ports and airports are already being implemented in countries including Laos, Myanmar, Nepal and in Central Asia, Yu Zirong, deputy director-general of the foreign aid department at the ministry, told a news conference in Beijing. "China's growing future foreign aid program will be tilted toward neighboring countries and those in the Silk Road region," Yu said. The planned shift in direction for Chinese foreign aid is a direct result of President Xi Jinping's proposed national strategy to revive the centuries-old trading routes connecting Asia and Europe, experts said. The newly created 40 billion yuan ($6.5 billion) Silk Road fund and the Beijing-initiated Asian Infrastructure Investment Bank are expected to facilitate China's foreign aid programs in the future, they said. "Such a shift indicates that China will be more inclined to offer assistance to Asia and neighboring countries," said Wang Luo, a researcher at the Chinese Academy of International Trade and Economic Cooperation. "It does not mean that the percentage of China's foreign aid to Africa will drop. It just means that Asia and countries along the Silk Road will get a greater share as China grows its aid spending," she said. Africa has been the largest recipient of China's foreign aid with more than half of spending directed at the continent between 2010 and 2012, according to a policy paper issued in June. China spent 89.34 bill

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