The Karachi Circular Railway (KCR) project has received funding of Rs292.4 billion from the Executive Committee of the National Economic Council (ECNEC), with a foreign contribution of Rs263 billion.
Finance Minister Senator Ishaq Dar presided over today’s ECNEC meeting. The committee approved the project to receive Rs 292.4 billion in funding for the Karachi Circular Railway (KCR).
According to the state news agency, the proposal asks for the building of a 44-kilometer-long, dedicated track for a contemporary urban railway in Karachi. It would travel via SITE, Gulshan-e-Iqbal, the Federal B area, Liaquatabad, North Nazimabad, Nazimabad, and Liyari after leaving Drigh Road.
The ECNEC also authorised the Ministry of Railways’ amended PC-1 for the Main Line-1 (ML-1) project enhancement currently being undertaken by Pakistan Railways. Subject to cost suggestions, technical requirements, and preferably an equity participation finance model, it had a total cost of US$9,851.079 million.
From Karachi to Peshawar, the Main Line-1 (ML-1) passes through Kotri/Hyderabad, Rohri, Multan, Lahore, and Rawalpindi.
The ECNEC also took into account and authorized the development of the 48 MW Shounter Hydropower Project in the district of Neelum, AJK, in another decision, subject to cost adjustment based on the dollar exchange rate of Rs220.
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