The construction of ML-1 project in three phases had been approved by the Executive Committee of National Economic Council (Ecnec) in its meeting held in August last year. AFP/File
LAHORE: The Chinese government has sent Pakistan’s first modern railways’ infrastructure project Main Line-1 (ML-1) to the Exim Bank of China for approval of a $6 billion loan after all technical, administrative and other issues have finally been resolved, paving the way for launching civil work on this scheme within this year.
“The latest on the $6.8 billion ML-1 project is that a finance committee comprising Chinese officials has sent the case related to $6 billion loan approval of the project to Exim Bank. Since the remaining $800 million will be provided by the government of Pakistan as equity, the total $6.8 billion will be spent on completion of the entire rail-related infrastructure, mainly the line, fencing, civil works etc,” Pakistan Railways Federal Secretary / Railway Board Chai
BW Businessworld
Pakistan s FDI Falls 35 % In Nine Months
The FDI had dropped by 30 per cent during the first eight months of the current fiscal, and due to the 40 per cent decline recorded last month, it has now fallen by 35 per cent after nine months
Photo Credit : Bloomberg
Cash-strapped Pakistan’s foreign direct investment (FDI) has fallen by 35 per cent at the end of the third quarter of the current fiscal year, reflecting no improvement in the situation for investors, according to the State Bank of Pakistan.
As per the data provided by the central bank, the FDI fell by 35.1 per cent to USD 1.395 billion during July-March compared to USD 2.15 billion in the same period of last fiscal.
5 Killed In Blast At Pakistan Hotel Hosting Chinese Ambassador: Official 5 Killed In Blast At Pakistan Hotel Hosting Chinese Ambassador: Official Beijing said it strongly condemned the attack, although the Taliban said Pakistan security officials were the target of the blast. The suicide bomber hit the security officials exactly as it was planned, TTP spokesperson said.
Quetta, Pakistan:
The Pakistan Taliban claimed responsibility Thursday for a deadly bomb blast at a luxury hotel hosting the Chinese ambassador in the southwest of the country, as officials raised the death toll to five.
Beijing said it strongly condemned the attack, although the Taliban said Pakistan security officials were the target of the blast.
Foreign direct investment falls by 35pc in nine months
Sun Online Desk
Foreign direct investment (FDI) has kept falling during the current fiscal as it declined by 35 per cent at the end of the third quarter, reflecting no improvement in the situation for investors.
According to State Bank of Pakistan (SBP) data issued on Monday, the FDI fell by 35.1pc to $1.395 billion during July-March FY21 compared to $2.15bn in the same period of last fiscal.
The inflow in March was just $167.6 million compared to $278.7m in the same month of last year a decline of 40pc.
However, as the inflow in March this year slightly improved compared to February when the inflow was $155m, the FDI trend shows that the overall trend is on the decline.
China keen to invest in five extraordinary fields of Khyber Pakhtunkhwa: Ambassador Nong Rong--China Economic Net en.ce.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from en.ce.cn Daily Mail and Mail on Sunday newspapers.