China will give $5.5bn loan for dual line
For upgradation and doubling of Pakistan Railways main line track from Karachi to Torkham at a cost of $ 8 billion, China would provide $5.5 billion concessional loan to Pakistan.
Federal Minister for Planning, Development and Reforms Ahsan Iqbal stated this during a briefing of Parliamentary Committee on his recent visit to China, along with the Railways Minister, Khawaja Saad Rafiq, where the decision was taken for up-gradation and dualization of the Pakistan Railways main line track from Karachi to Torkham, at a cost of $ 8 billion, of which $ 5.5 billion would be a concessional loan from China.
Doubling of the track from Torkham to Karachi was a long waited project not only for the less time consumption of the passenger trains but also for the fast movement of the goods trains to cater the increasing trade of goods.
The parliamentary committee on China Pakistan Economic Corridor (CPEC) that met with Senator Mushahid Hussain Sayed in the chair was given a detailed briefing by Ahsan Iqbal.
He said that Gilgit-Baltistan was being fully included in CPEC through Eco-friendly economic projects in different areas. He said a regional grid for G-B was being established, plus a plan for tourism on Attabad lake, Khunjerab-Islamabad fibre optic cable, initiative for mining of minerals, Hydel projects, up-gradation of KKH highway, establishing an Engineering University and a Medical College.
