fbpx
  • About
  • Advertise
  • Contact
Friday, February 3, 2023
  • Login
WRITE FOR US
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
No Result
View All Result
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
Economy.pk
Home Business

Railway infrastructure project sent to Chinese banks

bySidra Butt
April 21, 2021
in Business, Economy, Finance, Main, New, Technology, World
Reading Time: 1 min read
0
Railway
53
SHARES
1.1k
VIEWS
Share on FacebookShare on Twitter

The Chinese government has sent Pakistan’s first modern railways’s infrastructure project Main Line-1 [ML-1] to the Exim Bank of China for the approval of a $6 billion loan after all technical, administrative  and other issues have finally been resolved, paving the way for launching civil work on this scheme within this year.

“The latest on the $6.8 billion ML-1 projects is that a finance committee comprising Chinese officials has sent the case related to $6 billion loan approval of the project to Exim Bank. Since the remaining $800 million will be provided by the government of Pakistan as equity, the total $6.8 billion will be spent on completion of the entire rail-related infrastructure, mainly the line, fencing, civil works, etc,”

RelatedPosts

Pakistan may face a shortage of x-ray films, warns importer

Ishaq Dar greenlights plan to raise $2 billion from overseas Pakistanis

Pakistan’s textile sector exports witnessed a significant decline of 12.4%

Pakistan Railways Federal Secretary / Railway Board Chairman Dr. Habibur Rehman Gillani said “We appreciate our Chinese counterparts for taking the ML-1, a project to be executed under the China-Pakistan Economic Corridor (CPEC), seriously by resolving various issues in consultation with senior Pakistani officials concerned,” Mr. Gillani added. 

The construction of ML-1 project in three phases had been approved by the Executive Committee of National Economic Council (Ecnec) in its meeting held in August last year. The actual cost of the project was initially $9bn, including equity amount of the government of Pakistan. But later, it was reduced gradually to $6.8bn.

Tags: CPECEcnecML-1PakistanTrain
Sidra Butt

Sidra Butt

Related Posts

Pakistan may face a shortage of x-ray films, warns importer

Pakistan may face a shortage of x-ray films, warns importer

As commercial banks are unable to open letters of credit (LCs) for the import of x-ray films in the future—which...

Ishaq Dar greenlights plan to raise $2 billion from overseas Pakistanis

Ishaq Dar greenlights plan to raise $2 billion from overseas Pakistanis

Ishaq Dar, the finance minister, approved the raising of $2 billion from Pakistanis living abroad on Thursday in order to...

Next Post
Economy

Pakistan's economy to stay on the low side

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Pakistan may face a shortage of x-ray films, warns importer

Pakistan may face a shortage of x-ray films, warns importer

All-rounder David Wiese thanks Lahore Qalandars for reviving his international career

All-rounder David Wiese thanks Lahore Qalandars for reviving his international career

Pakistan defeated India 12-1 in a friendly baseball match in Islamabad

Pakistan defeated India 12-1 in a friendly baseball match in Islamabad

Ishaq Dar greenlights plan to raise $2 billion from overseas Pakistanis

Ishaq Dar greenlights plan to raise $2 billion from overseas Pakistanis

Pakistan’s textile sector exports witnessed a significant decline of 12.4%

Pakistan’s textile sector exports witnessed a significant decline of 12.4%

Pakistan fastest growing apps market worldwide in 2022

Pakistanis downloaded 35.4% more apps, making it the world’s fastest-growing app market

Connect with us

Twitter

Economy.pk

Economy.pk touches diverse topics with a lighter note and is geared toward audiences with various interests and all ages. Come and explore Economy.pk. Ample details and analysis are provided in extraordinarily readable manner making them compelling and interesting at the same time.

Category

  • World
  • Politics
  • Business
  • Technology
  • Education
  • Health
  • Life & Style
  • Opinions

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin

Sitelinks

  • Sitemap

Download our APP

download on android app download on apple app
  • About
  • Advertise
  • Contact

© 2023 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

  • VIDEOS
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2023 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

No Result
View All Result

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In