The federal cabinet on Friday made an important decision to approve the financing agreement between Pakistan Railways and China for the Karachi-Peshawar Railway Upgradation Project (ML-1) under the China-Pakistan Economic Corridor (CPEC), senior sources told ProPakistani.
Sources said the government will now implement the first phase of the ML-1 project.
The cabinet also approved an amendment to the Rules of Business 1973, which officially marked the closure of the Pakistan Public Works Department (Pak PWD) and confirmed the department’s status as inactive.
While more details on the railway financing project are yet to be confirmed, ProPakistani reported in June 2024 that China is likely to provide 85 percent of the funding for the ML-1 project, while Pakistan will contribute the remaining 15 percent from its resources.
The project, which aims to upgrade the main railway line from Karachi to Peshawar, is expected to be completed within 8 years.
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