July 28, 2021
ISLAMABAD: Pakistan has formally asked China for providing loans for construction of the much-awaited Mainline-1 (ML-1) of rail line from Karachi to Peshawar in USD instead of Chinese RMB currency or a combination of both currencies could be acceptable for moving forward.
Top official sources confirmed to The News here on Tuesday that Pakistani authorities have communicated five major points to Beijing officially for evolving consensus on financing agreement for the construction of multi-billion dollar strategically important ML-1 project under China Pakistan Economic Corridor (CPEC). The Joint Coordination Committee (JCC) was postponed recently between the two sides and it was not yet known when the JCC was going to be rescheduled. However, Pakistan officially conveyed its response to Chinese for finalizing the financing agreement on the ML-1 project. The Chinese side want to provide a loan for ML-1 in RMB currency but Islamabad conveyed that Pakistan prefers the lo
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