Islamabad July 26 2021: Federal Minister for Planning, Development, and Special Initiatives Asad Umar chaired a meeting to review the present status of preparation and processing of Karachi Circular Railway (KCR) and Railways Freight Corridor projects.
Federal Minister for Railways Azam Khan Swati, Secretary Planning, Secretary Railways, CEO PPP Authority, and senior officials of both Ministries participated in the meeting.
In the meeting, important issues related to the freight corridor were discussed and review. The meeting was informed that the feasibility study of the Freight Corridor has been completed. It has been decided in the meeting that in order to gauge the level of investor’s interest; all relevant important decisions must be taken within a month’s time by all the concerned departments.
A L S O || R E A D
Auto Financing Crossed PKR 300 billion Threshold
Pakistan has a skewed modal transportation mix, with approximately 94 percent of freight moved by road.
reported by Pakistan Railway
Secretary Railway also informed in the meeting that the Karachi Circular Railway project is on track as per the timelines given by the Ministry. The feasibility study of KCR will be completed by the middle of August.
Keeping in view the importance of this flagship initiative; the meeting decided that a separate project be prepared for the civil structure of KCR for completing the project on a fast track basis.
The PC-1 for civil structures must be brought for processing for approval and subsequent funding through PSDP at the earliest. Simultaneous work on both the components of KCR will result in months of time saving and completion of the project.
A L S O || R E A D
Pakistan IT Exports Crossed USD 2 Billion Mark For the First Time
