Pakistan Railways has decided to introduce a high-speed double track from Karachi to Peshawar in collaboration with China.
However, the ministry is yet to decide the mode of financing for the project. Notably, the project is going to incur billions of rupees, according to the Minister for Railways.
“We, with the help of China, will lay a double track from Karachi to Peshawar with the minimum speed of 160 kilometers per hour and a maximum of 260 if and when we get the go-ahead from the government,” says Sheikh Rasheed, Minister for Railways.
He made this revelation while talking to media at the Karachi Cantt. Station. He was there to see off the first scheduled cargo train launched under public-private partnership on the Karachi-Lahore route. Sindh Governor Imran Ismail was also present at the occasion.
Rasheed also said that an announcement will be made by Prime Minister Imran Khan regarding the mode of financing for the said project. The mode of financing can be a loan, investment, build, operate and transfer mechanism, joint venture, or public-private partnership.
“The decision is to be taken by the prime minister and this will be decided before March 23 so that work can be kick-started,” said the minister. He added that they will replace the old railway tracks with the new ones.
“As we are laying a railway track network across the country, the increase in train fares has become inevitable,” said Rasheed.
The minister also announced that Karachi Circular Railway (KCR), the $60 million mega-project, has become part of the China-Pakistan Economic Corridor (CPEC).