ISLAMABAD: The cost of the Main Line-1 (ML-1) railway project has been slashed and it is now likely to be completed with $6.6 billion cost against the earlier estimates of $9 billion under a revised plan, it has been learnt.
Chinese officials will share the revised plan with Pakistan’s Planning Commission after ‘one belt one road’ conference. Under the revised plan, the cost of ML-1 project will be reduced by $2.4 billion, the sources said. Both China and Pakistan agreed to the revised plan of the project in the joint working group session held in China, the sources said further.
To reduce the cost, the fencing plan of entire railway track has been postponed, and under the revised plan, the tracks will be fenced along the populated areas. In the first phase, overhead bridges will be constructed, and railway crossings will be closed in populated areas.
Secretary Pakistan Railways and Secretary Communications attended the joint working group meeting, according to the sources. The cost of the Main Line-1 project was reduced with mutual consultation.
In 2020, China and Pakistan had agreed to start a $10billion ML-1 Railways project from Karachi to Peshawar and Pakistan will provide 15% financing for the project.
It is to mention here that the project aims at upgrading and doubling of the 1733-kilometre railway track from Karachi to Peshawar besides the installation of modern signaling and telecom systems. The upgradation of the railway tracks will enable the trains to run at a speed of 140kilometres per hour.
Both the countries had signed the ML-1 framework in May 2017 and the Executive Committee of the National Economic Council (ECNEC) approved the project in August 2020.
