Islamabad Airport Cost Rs. 68 Billion More Than Its Initial Estimate: AGP

Islamabad International Airport has been receiving severe criticism from the general public, first for its delayed launch and then for the mismanagement, its dilapidating building, and so on.

Soon after it went operational, six months ago, the Public Accounts Committee (PAC) formed a sub-committee to locate those responsible for the irregularities in the new airport.

Reportedly, the airport cost a whopping Rs. 68 billion more than its first estimate. The sub-committee will investigate the matter and will put responsibility for irregularities in the construction of a tower on One Constitution Avenue and several other projects.

The above development was made in a meeting of the Public Accounts Committee (PAC) that was held in the Parliament House on Monday.


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AGP Briefing

In the meeting, the Auditor General of Pakistan gave a briefing on the audits of large projects, which included the newly-built Islamabad airport and the five-star hotel.

He apprised the committee that till date, Rs. 85.55 billion have been expended on the project. Moreover, the work completed on the project is still at 99 percent.

The AGP further told that the first project concept-I had been drafted in March 2008 and the cost estimated at that time was Rs. 37 billion. A review of the PC-I had been conducted in 2014 when the cost of the project was revised to Rs. 81 billion.

The project underwent a second review in March 2018. This time, the revised cost reached Rs. 105 billion. Moreover, the project was completed in eight years and incurred a cost exceeding the initial estimate by Rs.68 billion.

The official further revealed that the National Accountability Bureau (NAB) had received four cases in lieu of the audit of the discrepancies identified in the project. Moreover, the Federal Investigation Agency (FIA) held an extensive inquiry in this regard.

Notably, the inquiry identified every person involved in the irregularities.

Via: Tribune

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