ISLAMABAD: Prime Minister Imran Khan on Monday reviewed progress thus far made towards execution of the strategically important Pakistan Railways’ Mainline-1 project.

PM Imran Khan was briefed about the progress made so far on the ML-1, timeline set for its completion and benefits the project will yield.

Minister for Railways Sheikh Rashid Ahmad, Minister for Planning Asad Umar, Adviser on Finance Abdul Hafeez Sheikh and Chairman CPEC Authority retired General Asim Saleem Bajwa attended the meeting.

Speaking on the occasion, Prime Minister Khan said the ML-1 project is the most important project of the CPEC as it will modernize and strengthen railways infrastructure besides creating employment opportunities for thousands of skilful persons.

He said the project will also foster industrial growth, facilitate businesses and bring in social and economic development. On Aug 5, the executive committee of the National Economic Council (ECNEC) had approved the project of Pakistan Railways for upgradation existing Mainline-1 (ML-1) and establishment of dry port near Havelian.

The project was approved at the rationalized cost of US$ 6,806.783 million, on cost sharing basis between the governments of China and Pakistan, according to press statement issued by the Finance Ministry.

The ECNEC meeting was chaired by the Adviser to Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh at the Cabinet Division, it added. The execution of the project would be done in 3 packages and in order to avoid commitment charges, the loan amount for each package will be separately contracted. NNI