ECNEC approves modified PC-1 for ML-1 project worth $9.85 bn

ECNEC approves modified PC-1 for ML-1 project worth $9.85 bn


Finance Minister Ishaq Dar presided over the ECNEC in Islamabad on Monday.

ISLAMABAD (Dunya News) - The Executive Committee of National Economic Council (ECNEC) on Monday considered and approved in principle Ministry of Railways modified PC-1 for up-gradation of Pakistan Railways existing Main Line-1 (ML-1) project at the total cost of US$ 9,851.079 million subject to recommendation of cost, technical details and preferably an equity participation financial model.

Main Line -1 (ML-1) starts from Karachi, passes through Kotri, Hyderabad, Rohri, Multan, Lahore, Rawalpindi and terminates at Peshawar.

The meeting of the ECNEC was held here under the chairmanship of Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar.

Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal, Federal Minister for Commerce Syed Naveed Qamar, Planning & Development Minister of Baluchistan Noor Muhammad Dummar, Federal Secretaries, Chairman FBR and other senior officers from federal as well as provincial governments participated in the meeting.

ECNEC also considered and approved in principle Karachi Circular Railway (KCR) Project at total cost Rs. 292.4 billion with foreign share of Rs. 263.149 billion.

The project envisages construction of 44- kilometer long and dedicated track of modern urban Railway in Karachi starting from Drig Road, passes through areas including Gulshan-e-Iqbal, Federal B area, Liaquatabad, North Nazimabad, Nazimabad, SITE, and Liyari.

ECNEC also discussed and approved in principle Establishment of 48 MW Shounter Hydropower Project in district Neelum, AJK subject to revision of cost based on exchange rate of dollar @ Rs. 220.

The project envisages construction of 48 MW Hydro Power Project located on the lower part of Baral river which is right bank tributary of Neelum river, near Kel town village Shounter in Neelum Valley.