ECNEC Approves Revision of ML-1 Railway Project Cost to \$6.678 Billion
Islamabad:The Executive Committee of the National Economic Council (ECNEC) has approved an amendment to the PC-1 (Project Concept) of the Main Line 1 (ML-1) railway project, setting the revised cost at \$6.678 billion.
During the Friday session of the National Assembly, Parliamentary Secretary for Railways, Mohammad Usman Owais, informed lawmakers that during a high-level meeting between the Prime Ministers of China and Pakistan, both parties agreed to construct the Karachi-Hyderabad section of ML-1 on a pilot basis.
He mentioned that a draft Financing Commitment Agreement (FCA), which had been approved by the Cabinet Division, was shared with China’s National Railway Administration (NRA). However, the formal response from China is still awaited.
In addition, Owais stated that during the Joint Working Group meeting, China had expressed its willingness to send a technical working group to Pakistan to enhance the construction scheme for Package I of the project. This visit is still pending.
The Parliamentary Secretary further explained that the revised project cost is based on adjusted designs by Chinese consultants.
He also highlighted that under the framework of the China-Pakistan Economic Corridor (CPEC), the project is set to receive 85% concessional Chinese financing. However, the final approval for the financing will depend on the calling of a Joint Financing Committee (JFC) meeting.
The ML-1 project is a major initiative aimed at modernizing and upgrading Pakistan’s railway infrastructure, with the potential to significantly enhance regional connectivity. The revised cost reflects adjustments in design and technical plans, with strong support from China under the CPEC framework.
