The modified PC-1, which will upgrade the current Main Line-1 project of Pakistan Railways at a cost of more than $9.85 billion, has been approved by the Executive Committee of the National Economic Council.
The decision was made during a Committee meeting in Islamabad, which was presided over by Finance Minister Ishaq Dar. However, it will depend on cost recommendations, technical specifications, and preferably a financial model for equity involvement.
The Main Line-1 travels from Karachi to Peshawar through Kotri, Hyderabad, Rohri, Multan, Lahore, and Rawalpindi. The Karachi Circular Railway Project, which will cost 292.4 billion rupees and have a 263.149 billion rupee foreign contribution, was also authorized by the committee.
The 48 MW Counter Hydropower Project was also approved at the conference for construction in the Neelum district. In the meantime, the Economic Coordination Committee met in Islamabad under the direction of the Finance Minister.
The Committee approved the Ministry of Commerce’s summary regarding the government-to-government purchase of wheat from Russia.The Russian state-owned company M/s Prodintorg offered to supply the ECC with 300,000 MT of specific milling wheat for shipping from Tuesday through January 15, 2023.
