Chinese bank to review USD 6 bn loan for Pakistan s ML-1 railway project ANI | Updated: Apr 24, 2021 07:31 IST The latest on the USD 6.8 billion ML-1 project is that a finance committee comprising Chinese officials has sent the case related to USD 6 billion loan approval of the project to Exim Bank, Dawn quoted Pakistan Railways Federal Secretary/Railway Board Chairman Dr Habibur Rehman Gillani, as saying.
It further stated that the construction of the ML-1 project in three phases had been approved by Pakistan s Executive Committee of National Economic Council (ECNEC) in its meeting held in August last year. The actual cost of the project was initially USD 9 billion, including the equity amount of the government of Pakistan. But later, it was reduced gradually to USD 6.8 billion.
China bank to review USD 6 bn loan for Pak railway project
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China bank to review USD 6 bn loan for Pak railway project
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Karachi
April 19, 2021
Federal Minister for Railways Muhammad Azam Khan Swati has directed the Pakistan Railways authorities for finishing the planned development and upgrade projects urgently at different freight-related installations in Karachi.
During his visit on Saturday to Karachi Bunder Yard, Wazir Mansion, Reti Lane and Groyne Yard where different projects are under way, he said that in order to obtain significant revenue chunk from freight service, the railways needed to upgrade its service provisions at freight facilities that would pave the way for escalating the number of freight trains per day.
According to a press statement issued by the Pakistan Railways, during the minister s visit to Wazir Mansion, Divisional Superintendent Karachi Muhammad Hanif Gul apprised him about the submission of a comprehensive proposal pertaining to construction of a container terminal at Wazir Mansion. The said facility would substantially enhance the freight revenue of the department