The Executive Committee of National Economic Council has approved the modified PC-1 for up-gradation of Pakistan Railways’ existing Main Line-1 project at a cost of more than 9. 85 billion dollars.

The approval was given at a meeting of the Committee in Islamabad with Finance Minister Ishaq Dar in the chair.

However, it will be subject to recommendation of cost, technical details and preferably an equity participation financial model.

The Main Line -1 starts from Karachi, passes through Kotri, Hyderabad, Rohri, Multan, Lahore, Rawalpindi and terminates at Peshawar.

The Committee also approved the Karachi Circular Railway Project at a cost of 292.4 billion rupees with foreign share of 263.149 billion rupees.

The meeting further gave approval to establishment of 48 MW Shounter Hydropower Project in district Neelum.

Meanwhile, the Finance Minister also chaired a meeting of the Economic Coordination Committee in Islamabad.

The Committee approved the summary of Ministry of Commerce about procurement of wheat from Russia on government to government basis.

The ECC submitted the offer of M/s Prodintorg, a state-owned enterprise of Russia, for supply of 300,000 MT of specified milling wheat for shipment from Tuesday till 15th January 2023.

Source: Radio Pakistan