He was presiding over a meeting on KCR at New Secretariat on Tuesday, a press statement said.
Those who attended the meeting included Additional Chief Secretary (Development) Mohammad Waseem, Principal Secretary Naveed Kamran Baloch, Secretary Transport Taha Farooqui, Secretary Energy Agha Wasif, Chairman Sindh Engro Mining Company, Secretary Finance Hassan Naqvi and others, said a statement.
Secretary Transport Taha Farooqui said that the length of the project is 43.12 km with 23.86 km elevated, 3.7 km tunnel and 15.56 km surface. It would have 24 stations and the projected passengers would be around 0.58 million per day and the designed speed would be 100 km per hour.
He said that JICA is considering to provide soft term loan on a mark up of 0.1 percent repayable in 40 years, including 10-year grace period.
Karachi Urban Transport Corporation (KUTS) has been formed for implementation of the project, he said.
He added that the cost of land acquisition , compensation to project affected persons, GST, import duties and administrative cost will be borne by the stakeholders of KUTC like Ministry of Railways, Sindh government and KMC.
He also pointed out that KUTC has already been registered with Security Exchange Commission of Pakistan.
The CM Sindh was informed that the stakeholders with the equity shares are Ministry of Railways 60 percent, Sindh government 25 percent and KMC 15 percent.
JICA has carried out a study `Special Assistance for Project Formulation (SAPROF-1) during November 2008 to February 2009 and furnished its report in May 2009.
On the basis of the report PC-I was prepared and approved by Planning Commission of Pakistan in ECNEC meeting held on September 3, 2009.
Environmental Impact Assessment (EIA) of the project was accrued out and approved by EPA on July 4, 2009. Third party validation of feasibility study by M/s Louis Berger USA. Resettlement Action Plan (RAP) of the project affectees was commenced in May 2009 and completed in 2011.
The CM Sindh was apprised that Karachi Electric has declared KUTC/KCR as strategic customer. MoU signed with KESC now KE for uninterrupted power supply for KCR.
KPT has confirmed on February 2011 to hand over 0.85 acres land to KUTC on commencement of KCR project.
The resettlement Action Plan (RAP) study was approved by donor agency on July 28, 2011. The revised cost of the project has been approved at $2.6 billion ECNEC in 2012.
SUPARCO has finalized satellite Imagery of KCR Route alignment and preliminary alignment plans finalized in consultation with JICA experts and concerned railway official.
The CM Sindh directed the Secretary transport to explore other donors to start the project. This is unacceptable that the project is hanging in balance from 2008, he said and asked his team to talk to local financial institutions and international agencies. This cannot be delayed further, he categorically said.
"I am writing a letter to the prime minister and he has supportive," he said and added that he would also hold a meeting with ambassador of China and Minister for Planning Ahsan Iqbal.
He said that traffic issues in the city are on the rise and turning complicated day by day.
The solution of these issues lies in KCR and Rapid Bus Transport (RBT) apart from effective traffic management, widening of roads and constructing underpasses and fly.
He directed the transport department to prepare KCR case for CPEC .