Islamabad: The government has released 100 percent of the funds earmarked for the development of the initial designs for the revamping and renovation of the Karachi-Peshawar Railway Line (Main-Line/ML-1) and the Havelian dry port under China-Pakistan Economic Corridor (CPEC) initiative, a news source reported. As per the publication, total funds amounting to PKR 1.8 billion have been disbursed.
The government had allocated PKR 1.8 billion for the project under the Public Sector Development Programme (PSDP). The Ministry of Planning Development and Special Initiatives announced that the estimated total costs of the project were PKR 10.64 billion, out of which PKR 5.172 billion were utilised by end of June, last year.
The government has disbursed the previously allocated PKR 1 billion for buying a total of 75 Diesel Electric Locomotives. Furthermore, the executive administration has disbursed PKR 1.9 – out of PKR 2.2 billion earmarked for 230 passenger coaches and 820 bogie freight wagons of high capacity. Out of PKR 1.4 billion, the government has released PKR 1.11 billion for the renovation of assets damaged by the floods during 2010.