{"id":77851,"date":"2021-07-13T14:09:26","date_gmt":"2021-07-13T09:09:26","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=77851"},"modified":"2021-07-13T14:09:32","modified_gmt":"2021-07-13T09:09:32","slug":"railways-ml-1-on-10th-jcc-agenda","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/railways-ml-1-on-10th-jcc-agenda.html","title":{"rendered":"Railways\u2019 ML-1 on 10th JCC agenda"},"content":{"rendered":"\n<p>Islamabad: The next Joint Coordination Committee (JCC) meeting, which is now being held this Friday (July 16), is expected to deliberate on the multibillion-dollar Main Line (ML)-1 railway project, according to news reports. When approved, the railway line project, which runs from Karachi to Peshawar, will be completed in seven to eight years.\u00a0\u00a0\u00a0<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/railways-minister-chinese-envoy-for-timely-launch-of-ml-1.html\" target=\"_blank\" rel=\"noreferrer noopener\">Railways minister, Chinese envoy for timely launch of ML-1<\/a><\/p>\n\n\n\n<p>The <a href=\"https:\/\/www.zameen.com\/news\/10th-jcc-of-cpec-to-meet-next-week.html\" data-type=\"post\" data-id=\"77790\" target=\"_blank\" rel=\"noreferrer noopener\">10th JCC<\/a> is scheduled to take place virtually on July 16, 2021, and will cover a wide range of development projects taking place under the China Pakistan Economic Corridor (CPEC) initiative. <a href=\"https:\/\/www.zameen.com\/news\/proposal-for-ml-1-sent-to-chinas-exim-bank.html\" data-type=\"post\" data-id=\"75720\" target=\"_blank\" rel=\"noreferrer noopener\">The ML-1,<\/a> however, will be discussed on priority as there are some outstanding differences between the two countries on cost estimation of the project.\u00a0\u00a0<\/p>\n\n\n\n<p>According to details, the Central Development Working Party (CDWP) and the Executive Committee of the National Economic Council (ECNEC) from Pakistan have estimated the total cost of the project to be USD 7.2 billion, while the Chinese side has estimated the total value of the project to be between USD 9.2 and 9.5 billion. The difference in estimated cost is the bone of contention between the two sides.\u00a0\u00a0\u00a0<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/work-cpec-developments-accelerate-future.html\" target=\"_blank\" rel=\"noreferrer noopener\">Work pace on CPEC developments to accelerate in future: Umar<\/a><\/p>\n\n\n\n<p>The second difference in the project is the makeup value, which the Chinese government is offering at a rate of 2.4 %, consistent with previous projects; however, the Pakistani side has argued that due to the massive nature of the project and high building costs, funds should be provided at a rate of 2%.<\/p>\n\n\n\n<p>Furthermore, according to the sources, the Pakistani government would try to encourage the Chinese government to start the bidding process and then raise the cost if needed.&nbsp;&nbsp;&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The next Joint Coordination Committee (JCC) meeting, which is now being held this Friday (July 16), is expected to deliberate on the multibillion-dollar Main Line (ML)-1 railway project, according to news reports. When approved, the railway line project, which runs from Karachi to Peshawar, will be completed in seven to eight years.\u00a0\u00a0\u00a0 Read: Railways minister, Chinese envoy for timely launch of ML-1 The 10th JCC is scheduled to take place virtually on July 16, 2021, and will cover a wide range of development projects taking place under the China Pakistan Economic Corridor (CPEC) initiative. The ML-1, however, will be discussed on priority as there are some outstanding differences between the two countries on cost estimation of the project.\u00a0\u00a0 According to details, the Central Development Working Party (CDWP) and the Executive Committee of the National Economic Council (ECNEC) from Pakistan have estimated the total cost of the project to be USD 7.2 billion, while the Chinese side has estimated the total value of the project to be between USD 9.2 and 9.5 billion. The difference in estimated cost is the bone of contention between the two sides.\u00a0\u00a0\u00a0 Read: Work pace on CPEC developments to accelerate in future: Umar The second&hellip;<\/p>\n","protected":false},"author":84,"featured_media":69325,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15013],"tags":[42055,46827,31826],"persona":[],"class_list":{"0":"post-77851","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-construction","8":"tag-cpec-joint-working-group","9":"tag-jcc-on-16th-july","10":"tag-ml-1-project","11":"cat-15013-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Railways\u2019 ML-1 on 10th JCC agenda - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The next Joint Coordination Committee (JCC) meeting, which is now being held this Friday (July 16), is expected to deliberate on the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/railways-ml-1-on-10th-jcc-agenda.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Railways\u2019 ML-1 on 10th JCC agenda - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The next Joint Coordination Committee (JCC) meeting, which is now being held this Friday (July 16), is expected to deliberate on the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/railways-ml-1-on-10th-jcc-agenda.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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