Pakistan seek $4.8 billion transnational investment from World Bank

Pakistan seek $4.8 billion transnational investment from World Bank

Prime Minister Imran Khan, on Tuesday, signed a joint appeal in the name of the World Bank for investing around $4.8 billion in the rail link among Pakistan, Uzbekistan, and Afghanistan.

Under this project, Pakistan and Uzbekistan will be connected by rail link through Afghanistan. Later on, other Central Asian countries, such as Tajikistan and Turkmenistan, would also be able to join the proposed rail link. This project will enable cargo service between Pakistan, Afghanistan, and Uzbekistan. ------------------------------

Federal Minister for Railways, Azam Khan Swati, Advisor on Trade and Investment, Abdul Razzaq Dawood, Foreign Secretary, Sohail Mahmood, and Principal Secretary to Prime Minister, Muhammad Azam, were also present on this occasion.

Presidents of Uzbekistan and Afghanistan had already signed the trilateral joint appeal to World Bank. The rail link would play a significant role in the progress and prosperity of these countries.

In this regard, the three countries will appeal to the President of the World Bank for $4.8 billion for financing. The World Bank authorities are already on board in response to this appeal.

Meanwhile, Pakistan and Uzbekistan, on Tuesday, discussed the Trans Afghan Rail Project. The project would connect Pakistan and Uzbekistan via Afghanistan. Other Central Asian countries can also join the project later on. ------------------------------

A delegation of Uzbekistan, led by the Uzbek Minister for Transport, Makhamov Ilkhom, First Deputy Minister of Investment and Foreign Trade, Kudratov Laziz, Deputy Minister of Foreign Affairs, Sidiqov Furqat, and Charge d`Affairs of Uzbekistan to Pakistan, Tashmatov Sadulla, called on the Federal Minister for Railways, Azam Khan Swati, on Tuesday.

The dignitaries highlighted the matters of mutual interest of the two countries and the cargo train service during the meeting, said a statement issued by the Ministry of Railways.

This railway link will be crucial to the economic development of the three countries, CARs, and would help in strengthening the regional ties.

The funds raised under the joint appeal will see to the laying of a 573-km railway line. This shortest economic track would run from Peshawar to Kabul and from Kabul to Uzbekistan via Mazar-e-Sharif. ------------------------------

On this shortest and economically attractive route, 27 stations, 912 artificial constructions, and seven tunnels will be established to facilitate cargo movement. On this occasion, Federal Minister for Railways Azam Khan Swati vowed to strengthen the economy through joint venture and regional connectivity. The project will also obliterate terrorism from the region, he further added.