Islamabad: The project cycle-1 (PC-1) of the Mainline-1 (ML-1) initiative is expected to be forwarded to the Central Development Working Party (CDWP) in March for approval, a news source reported. To this effect, Minister for Planning, Development and Special Initiatives Asad Umar on Tuesday directed the Pakistan Railways to finalise the terms and conditions for financing the ML-1 project and to expedite its third-party review.
The minister was addressing a review meeting about the present status of the PC-1 of the ML-1 project and the Pakistan Railways’ strategic plan on this front. Advisor to the Prime Minister for Institutional Reforms and Austerity Dr Ishrat Hussain, Deputy Chairman Planning Commission, secretaries planning and railway, and other officials attended the meeting.
The meeting was informed that the Planning Commission (PC) was reviewing the PC-1 of the ML-1 project in consultation with all stakeholders. The planning committee devised a financial committee to observe the modalities for implementations of the project from a financial perspective and asked the Economic Affairs Division (EAD) to inform the Chinese government about Pakistan’s readiness to develop the project.
According to reports, the project is estimated to cost USD 9.2 billion and would see the establishment of a 1,872-kilometre dual track between Karachi and Peshawar – set to be developed under the China-Pakistan Economic Corridor (CPEC) initiative.
