Tuesday, November 01, 2022
The biggest city of Pakistan, Karachi, will have a 44-kilometre-long circular railway again. The Executive Committee of the National Economic Council (ECNEC) has approved the Karachi Circular Railway (KCR) project worth almost Rs300,000 million.
Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired the ECNEC meeting on Monday.
Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal, Federal Minister for Commerce Syed Naveed Qamar, Planning & Development Minister of Balochistan Noor Muhammad Dummar, Federal Secretaries and chairman FBR participated in the meeting.
ECNEC approved in principle the ministry of railways-modified PC-1 for the upgradation of the Pakistan Railways' existing Main Line-1(ML-1) project at the total cost of US$ 9,851.079 million subject to the recommendation of cost, technical details and preferably an equity participation financial model.
Main Line -1 (ML-1) goes from Karachi to Peshawar, passing through Kotri, Hyderabad, Rohri, Multan, Lahore and Rawalpindi.
ECNEC also gave a go-ahead in principle to the KCR Project at a total cost Rs292,388 million with a foreign share of Rs263,149 million. The project envisages the construction of a 44-kilometre long and dedicated track of modern urban railway in Karachi. The track will start from Drig road and pass through areas, including Gulshan-e-Iqbal, Federal B area, Liaquatabad, North Nazimabad, Nazimabad, SITE, and Liyari.
ECNEC also approved in principle the establishment of 48 MW Shounter Hydropower Project in district Neelum, AJK subject to revision of cost based on the exchange rate of dollar. The project envisages the construction of 48 MW hydro power project located on the lower part of the Baral river, which is right bank tributary of the Neelum river, near Kel town village Shounter in Neelum Valley.