Approval of ML-1 project deferred
Planning ministry says sponsors need to provide fresh analysesISLAMABAD: The Central Development Working Party (CDWP) on Wednesday deferred once again, the approval of $9.2 billion Mainline (ML-I) project under the China-Pakistan Economic Corridor (CPEC) due to a host of unresolved issues. The mega railway line project is the only project declared strategically important by China and Pakistan. The CDWP had a threadbare discussion on the project in its meeting on Wednesday and the “forum underlined the space for improvement in the proposal and deferred the project till next meeting”, the planning ministry said in a statement. The PC-I for Phase-I was placed on the agenda of the CDWP meeting in May 2018. The high demand case has a better result, but the project savings only cover 20% of the 2025 debt service of the project,” it said.
Source: The Express Tribune April 16, 2020 04:30 UTC
