Pakistan, China agree to execute $10bn ML-1 project
- By Web Desk -
- Oct 28, 2022
ISLAMABAD: Pakistan and China have agreed to start a $10 billion Mainline-1 (ML-1) railway project from Karachi to Peshawar and extending CPEC’s scope from government-to-government to business-to-business cooperation
This was stated by Minister for Planning and Development Ahsan Iqbal while talking to media after the 11th meeting of Joint Cooperation Committee (JCC) on CPEC.
The minister said extending CPEC’s scope from government-to-government to business-to-business cooperation will help promote industrial sector, increase our export potential and foreign direct investment.
He said the JCC meeting agreed to promote industrial cooperation between the two countries . The federal minister said the meeting also decided to accelerate the momentum of CPEC projects across the country as the project remained stalled during the last four years.
Read more: PM orders inclusion of Peshawar-Torkham section in ML-1 project
Ahsan Iqbal went on to say that several new projects have been included in CPEC and it has been decided to establish working groups in sectors including water resource management, information technology, mining, agriculture and exports.
He said the JCC meeting discussed delayed infrastructure projects like ML-1 and Karachi Circular Railway and agreed to complete work on these projects soon.