ISLAMABAD – Pakistan has cleared the Mainline-I project of theChina-Pakistan Economic Corridor (CPEC) at an initial price tag of $3.4billion.
This is the most strategic project of the CPEC as it will completelyoverhaul the Railways system of the country which would act as the backbone of the transport corridor.
The Central Development Working Party (CDWP) recommended the project forfinal approval of the Executive Committee of the National Economic Council(Ecnec). The CDWP has a mandate to approve projects worth up to Rs3 billionor $26 million, and all other schemes over the threshold are cleared forfinal approval of Ecnec.
Projects that are referred to Ecnec include up gradation of PakistanRailways existing mainline-1 (ML1) at a cost of Rs381.1 billion ($3.4billion), according to an announcement by the Planning Commission onThursday.
The Mainline project of Pakistan Railways has been declared as a strategicproject by both China and Pakistan.
It was for the fourth time that the mainline project, which is part ofCPEC, has gone for CDWP’s endorsement. Earlier, the CDWP cleared theproject in June 2016. Then, in September 2017, it again discussed thescheme due to changes in the design cost. Again in March, the project wasput before the CDWP but was withdrawn.