Islamabad: Federal Minister for Railway Sheikh Rasheed Ahmed held a meeting with Xhiang Zhinim, Director General (DG) China Railway Group Ltd (CREC), at Ministry of Railways In the second week of September. He sought China’s help in the Upgradation of Main Line 1 (ML-I) project which is estimated at $8.2 Billion.The Railway minister also stressed on Imran Khan’s zero tolerance for corruption. Javed Anwar, Chairman Ministry of Railways, Aftab Akbar, CEO Pakistan Railways, Zubair Taimoor Ghilzai, Secretary Railway Board, and Maryam Gillani, DG Operations were also present during the meeting.
Chinese Ambassador to Pakistan Yao Jing had recently called on the Railway Minister to extend their complete support to the newly formed government and to assure that projects under the CPEC will be completed within 5 years.
Although the Loan Financing has not been finalized yet, the investment ratio between Pakistan and China would be 15:85. Pakistan Govt would pay 15% (under Public Sector Development Program) while china would pay the remaining 85% of the $8.2 Billion.
Under this project doubling of ML-I from Karachi to peshawer and Taxila to havelian would be completed in 5 years. Special Economic zones would be made which will help in transportation of goods to and from china.
After the upgradation the freight capacity will increase from 1,650 to 3,400 tons while freight volume is expected to increase from 6 million tons to 36 million tons. The main line capacity will increase from 34 to 171 trains each way per day.