$ 9 billion deal was finalised by pakistan for CPEC’s project

The project was discussed in detail throughout the Joint Working Group (JWG) on transportation infrastructure meeting which was held on October 10 and 11 in Islamabad. Pakistan’s Communication Secretary Jawwad Rafique Malik along with the Chinese Ministry of Transport Chief Planner Wang Zhiqing co-chaired the meeting. The JWG meeting was held ahead of the forthcoming Joint Cooperation Committee (JCC) of this CPEC meeting that will vet these conclusions.

The Pakistani authorities have also decided to accept the job rather than granting approval as a single umbrella plot, according to the government resources. The Ministry of Railways will submit the umbrella PC-I document, having an estimated cost of around $9 billion, for consideration of the Ministry of Planning by October 31, they included.

The Condition of the ML-I job was also discussed during a meeting between Prime Minister Imran Khan, Chief of Army Staff General Qamar Bajwa, Railways Minister Shaikh Rashid Ahmad and Chinese President Xi Jinping. The multi billion-dollar principal Line ML-I project of the China-Pakistan Economic Corridor (CPEC) will soon be back on track as the national government has decided to take around $9 billion loan, which will address a key bottleneck in securing financing for the much-delayed scheme.

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