Ml-1 Railways Agreement

By inviting the offers to be published from 12 September, the Ministry of Railways, on the basis of legitimate Chinese companies, will seek to enhance the aforementioned ML-1 packages in EPC (Engineering, Supply and Construction) mode. The funding arrangements are not yet clear. The tender simply states: ”The project is financed under a CPEC financing agreement through loans from Chinese financial institutions and, in part, by the Pakistani government.” Meanwhile, the Ministry of Railways on Wednesday entrusted Mr. Farrukh Taimur Ghilzai (a BS-21 officer) who, as secretary (railway directorate), assumed, in addition to his current activities, the responsibility of the Pakistan Advisory Services and Consulates (PRACS). A notice has been issued on this matter. Small says that ml-1, like many major rail projects, will not generate significant direct returns. Its success depends mainly on the realization of other positive externalities. For example, the costs and delivery times of large cargoes to Pakistan will be reduced. It can also help revitalize the country`s railways, which are on the verge of collapse.

”Under the agreement between the People`s Republic of China and the government of the Islamic Republic of Pakistan, only Chinese companies/consortia have the right to participate in the tendering process,” the invitation states. The PR has also set a deadline of 22 October for bids for the project. The project includes the introduction of a new track to allow 160 km/h speeds for railways, the renovation and construction of bridges, the provision of modern signalling and telecommunications systems, the replacement of crossings with underpasses/viaducts, lane fencing, the construction of a dry port near Havelian and the modernization of the Walton Training Academy (Lahore). The Minister of Power told the Prime Minister that he would hold a series of press conferences to inform people of the benefits they would get under the agreement between the government and the IPPs. ”Beijing doesn`t want to say no [to ML-1], it wants to be engaged in Pakistan, but at the same time it is aware of the risky environment for Chinese investment,” said Jeremy Garlick, assistant professor at the Jan Masaryk Centre of International Studies at Prague University of Economics. ”Instead of abstaining from demand, China is slow to propose an investment, but is an obstacle to the final agreement to delay things,” Garlick told Nikkei Asia. ML-1 is the largest initiative in the Sino-Pakistan Economic Corridor (CPEC), with a price of $6.8 billion. With a 2,655 km road, it connects Karachi in the south to Peshawar in northern Pakistan. Sheikh Raschid Ahmed, the federal railway minister, said ml-1 would create jobs for 150,000 people in Pakistan. The agreement was reached between Federal Railway Minister Sheikh Raschid and China`s Ambassador to Pakistan Nong Rong at a meeting in the federal capital on Monday.

The current Karachi Peshawar railway line was built in the 19th century as a patchwork of different railways. Today`s line consists of the following historical sections, built between 1861 and 1900: with no other possibility, Getting loans from Western nations, Islamabad has no choice but to seek them from China for projects it deems economically important, because not all Chinese-supported projects have stalled: Orange Metro Train Lahore, Pakistan`s first metro train built at a price of $1.6 billion below the CPEC, was commissioned on Sunday. The Karachi Peshawar railway line (Urdu: کراچی – Romanized: kara-pevar markaza resta) is one of the four main railway lines in Pakistan.

KategorierOkategoriserade