• Wednesday, July 8, 2020

Featured Karachi-Peshawar Railway upgrade to begin March 2021, create 174,000 jobs

Discussion in 'Infrastructure & Development' started by Shahzaz ud din, Jun 23, 2020.

  1. Shahzaz ud din

    Shahzaz ud din SENIOR MEMBER

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    Groundbreaking of ML-I project likely in March next year

    After the Central Development Working Party’s approval regarding the up-gradation of the Karachi-Peshawar Main-Line (ML-1) Project, the government is expecting the groundbreaking of the project around March 2021.
    [​IMG]
    According to the budgetary documents, the concessional financing agreement for the landmark ML-1 Project (estimated to be $7.2 billion) is expected to be finalized in 2020, and subsequently, an arrangement will be made for the commencement of physical work.

    The strategic railway project of ML-1 has been planned as part of the second phase of the China-Pakistan Economic Corridor (CPEC).

    The implementation period of the project is nine years — to be executed in three phases. The project, which aims to upgrade and dualism of 1,872-km rail track from Peshawar to Karachi, has the potential to create 174,000 direct jobs.

    According to documents, “The government has so far remarkable progress on the ML-1 project, with the financing committee, which has participation from both countries, successfully holding several meetings to finalize the concessional financial modalities for the project.”

    Meanwhile, the government has allocated a total of Rs6 billion for the ML-1 Project under its Public Sector Development Program (PSDP) 2020-21.

    A planning ministry official informed that the project allocation would be increased in the coming years when physical work on the project would start gaining momentum.

    He said that 90pc of the total project would be funded by China.

    In total, the government has allocated Rs77 billion for various development projects under CPEC for the year 2020-21.
     
    Last edited by a moderator: Jun 23, 2020
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  2. HalfMoon

    HalfMoon FULL MEMBER

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    Pakistan is very fortunate to have an ally like China.
     
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  3. PradoTLC

    PradoTLC SENIOR MEMBER

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    but unfortunate to have a neighbour like india
     
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  4. Krptonite

    Krptonite FULL MEMBER

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    Right back atcha:p: