The Executive Committee of the National Economic Council (ECNEC) during its recent meeting has granted approval to the Pakistan Railways existing main Line-1 (ML-1) project. The meeting of the ECNEC presided over by Finance Minister Ishaq Dar .
Till now the ML-1 project was being delayed because of it being very expensive but now the ECNEC has granted approval at an estimated cost of US$ 9,851.079 million subject to recommendation of cost, technical details and preferably an equity participation financial model. ML-1 starts from Karachi, passes through Kotri, Hyderabad, Rohri, Multan, Lahore, Rawalpindi and terminates at Peshawar.
During the meeting ECNEC also approved the Karachi Circular Railway (KCR) project at total cost Rs. 292,388 million with foreign share of Rs. 263,149 million.
The project of KCR envisages an intra city metro train which will improve the mobility of the locals of the metropolitan city. KCR is planned to be a 44-kilometre long and dedicated track of modern urban railway in Karachi starting from Drigh Road, passes through areas including Gulshan-e-Iqbal, Federal B area, Liaquatabad, North Nazimabad, Nazimabad, SITE, and Lyari. The KCR project has been approved at total cost Rs. 292,388 million with foreign share of Rs. 263,149 million.