• Login
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion
No Result
View All Result
Times of Pakistan
No Result
View All Result
Home Sports

Olympics: Tokyo 2020 Slashes Budget To $17 Billion

Top by Top
August 16, 2021
in Sports
0
Tokyo 2020

Olympics Tokyo 2020 slashes budget to $17 billion

0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Tokyo Olympics organisers unveiled a smaller budget of up to $17 billion on Wednesday after coming under pressure to cut ballooning costs.

[contentblock id=2 img=gcb.png]

The figure, down from last month s pledge to cap spending at $17.78 billion, follows warnings that the bill for the 2020 Games could soar as high as $30 billion.

Tokyo 2020
Olympics Tokyo 2020 slashes budget to $17 billion

Organising committee chief executive Toshiro Muto said the entire Games budget would be between 1.6 trillion and 1.8 trillion yen, which he put at $15-16.8 billion. Under the latest exchange rate, the same yen figure is worth $13.6-15.3 billion. This year s Rio Games cost $12 billion, while London 2012 came in 8.77 billion pound or $13.7 billion under the exchange rate at the time. Wednesday s figure, the most complete budget yet for Tokyo 2020, comes after officials scrambled to slash the costs of building some venues. It was revealed at talks between the International Olympic Committee (IOC) and the Tokyo and national governments, who are meeting regularly to try to cut costs. 

[contentblock id=1 img=adsense.png]

This does give the overall picture,” IOC vice-president John Coates said by videolink from Sydney. We are pleased with the progress you are continuing to make,” he said, adding: “We think that we can work with you to find… more savings.” Tokyo governor Yuriko Koike, who was elected this year vowing to bring down costs, said some 40 billion yen would be saved after a review of the canoeing, volleyball and swimming venues. The three-party meeting by the committee, the central government and the Tokyo government, will get to work on specifics early next year,” Koike told reporters, with “cost-sharing” on the agenda. “I want to strictly check who will pay for what as swiftly as possible.” In the battle to cut costs, she had proposed moving the canoeing venue 400 kilometres (250 miles) north of Tokyo to Miyagi prefecture, one of the areas hardest hit by Japan s 2011 tsunami disaster. 

[contentblock id=3 img=adsense.png]

Read More: Tokyo 2020 Olympic Village to Be Hydrogen-Powered

But the idea faced resistance from the organising committee, which argued that changing sites was impractical and could end up costing more. Koike dropped the plan last month and announced that canoeing would stay in Tokyo but with the venue built at a sharply reduced cost. She also said then that Tokyo would build a new aquatic centre with 15,000 seats, smaller and cheaper than the original plan for a 20,000-seat facility. And last week Koike said the volleyball venue would stay in the capital but be built at a lower cost. In a meeting last month, Muto said the organising committee s working budget was capped at less than two trillion yen ($17.78 billion) and officials were committed to pushing it lower. But Coates refused to accept the figure and said overall costs would have to come down significantly.

Previous Post

Umer Sohail Flagship Store Launch

Next Post

Afghanistan Taliban kill Five In Attack On MP’s House

Top

Top

Related Posts

Babar Azam becomes first player to win ICC Player of the Month award twice
Sports

Babar Azam becomes first player to win ICC Player of the Month award twice

by Top
April 12, 2022
Ex-greats hope Australia tour will lead to more int’l cricket in Pakistan
Sports

Ex-greats hope Australia tour will lead to more int’l cricket in Pakistan

by Top
April 7, 2022
Rawalpindi Express Shoaib Akhtar begins talent hunt with PM’s Kamyab Jawan, GSV
Sports

Rawalpindi Express Shoaib Akhtar begins talent hunt with PM’s Kamyab Jawan, GSV

by Top
January 18, 2022
Ptv Takes Notice Of Shoaib Akhtar Treatment On Live Show
Cricket

Ptv Takes Notice Of Shoaib Akhtar Treatment On Live Show

by Top
October 27, 2021
Englisg cricket board apologized for refusing to visit Pakistan
Cricket

Englisg cricket board apologized for refusing to visit Pakistan

by Top
September 29, 2021
wasim khan resign
Sports

PCB Chief Executive Wasim Khan resigns over ‘clipping of powers’

by Top
September 29, 2021
England players were left in the dark about Pakistan tour: report
Sports

England players were left in the dark about Pakistan tour: report

by Top
September 24, 2021
Next Post
attack

Afghanistan Taliban kill Five In Attack On MP’s House

Popular Stories

  • Multiple killed, dozens injured in Peshawar Police Line mosque blast

    Multiple killed, dozens injured in Peshawar Police Line mosque blast

    0 shares
    Share 0 Tweet 0
  • Top 10 Fastest Sprinters Ever

    0 shares
    Share 0 Tweet 0
  • Cow Gets Stuck on roof in Switzerland

    0 shares
    Share 0 Tweet 0
  • Andrea Riseborough flaunts her cleavage in black gown at the red carpet of Independent Film Awards

    0 shares
    Share 0 Tweet 0
  • 9 Exotic Cat Breeds You May Have Never Seen Before

    0 shares
    Share 0 Tweet 0
Times of Pakistan

About Times Of Pakistan

kralbetbetturkeyikimislibahis1xbetm.infohipas.infohttps://www.wiibet.com/restbetcdn.com

Other Categories

  • Beautiful Pakistan
  • Fashion News
  • Funny News
  • Viral Videos
  • Weird News

Recent Posts

  • Multiple killed, dozens injured in Peshawar Police Line mosque blast
  • Breath life into the Royal Era of the East with Shameel Khan
  • Pakistani rupee slips further against the US dollar

Times Of Pakistan © 2021. Design & Developed by E2E Solution Providers.

No Result
View All Result
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In