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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 on Friday dismissed as "unnecessary" the concerns of Pakistani businesses over the possibility of local markets getting flooded with cheap Chinese goods due to tax exemption under the CPEC project

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The United States African Development Foundation (USADF) has signed three grants to support economic development in Senegal. The grants will benefit Association for Training, Development, Education and Culture (AFDEC), Caisse d'pargne et de crdit de Mpal (CPEC MPAL), and GIE Kambeng Kaafo (Kambeng).

The Islamabad Capital Smart City enjoys a premium location in the suburbs of Islamabad and Rawalpindi. The society lies near the Thallian Interchange on Islamabad - Lahore Motorway M2. The housing society is at a 5-minute drive from New Islamabad International Motorway. On the other side, the housing society bisects Chakri Road from Rawalpindi. CSC is one of the only societies in the area that has a No Objection Certificate (NOC) from the Rawalpindi Development Authority (RDA). Also, this society has also been approved by the National Highway Authority (NHA) and FWO to construct a dedicated interchange on Lahore - Islamabad motorway. The location also lies in close proximity to the proposed Rawalpindi Ring Road as well as the upcoming China Pakistan Economic Corridor (CPEC) route. According to the location and map of Islamabad Capital Smart City, the CSC is set to be constructed on a land area of 60000 Kanals. The river Sill and adjunct Chauhan Dam lie within the housing society. It is one of the only housing societies in the region that has access to natural water resources. Apart from this, the housing society is strategically located to enjoy undisrupted access from major roads of Rawalpindi and Islamabad. The Capital Smart City Map & Location can be downloaded by clicking here.