| Islamabad: The Pakistan Government has approved a financing agreement between Pakistan Railways and China for the Karachi-Peshawar Railway Upgradation Project (ML-1) under the China-Pakistan Economic Corridor (CPEC). The news has been sourced from an article on August 30.
Read: Pak, China for timely completion of CPEC projects
According to sources, China is expected to fund 85% of the ML-1 project, with Pakistan covering the remaining 15%. The project aims to upgrade the railway line from Karachi to Peshawar and is slated for completion within eight years. This decision clears the way to implement the project’s first phase. Additionally, the cabinet approved an amendment to the Rules of Business 1973, formally closing the Pakistan Public Works Department (Pak PWD) and marking it as inactive. |
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