KARACHI: Govt turns to private sector for KCR revival
KARACHI, May 24: The steering committee constituted for rehabilitation of the Karachi Circular Railway met here on Friday with the provincial transport minister, Dewan Yousuf Farooqui, in the chair.
Engineering Consultant International gave a presentation about the project.
In the meeting, a directive was issued for preparation and submission of PC-1 for Karachi Circular Railway Loop.
The meeting accorded approval for Circular Railway Loop as well as additional work on the pre-engineering of Main Line and Master Plan Stage-II.
Dewan Yousuf called for accelerating the pace of work on the master plan and its feasibility to ensure its early start.
He said that the World Bank will be approached through the finance department for $75 million assistance for this project, while the federal government will be approached for another $75 million.
He said that the government is keen for participation of the private sector in the rehabilitation of the circular railway and in this regard he had a meeting with China Machinery Company during his recent visit to China, which expressed keen interest in the project.
He said that the present government has always welcomed foreign investment and local and foreign investment will be encouraged to participate in the revival of KCR.
Dewan Farooqui informed the meeting that a delegation led by him will again visit China to hold further discussions with the CMC.
He observed that completion of this project would greatly help overcome the growing traffic problem in Karachi and people would get cheaper and comfortable commuting service.
