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09 December 2004 Thursday 26 Shawwal 1425



KARACHI: Banks to be approached for KCR financing


KARACHI, Dec 8: Sindh Transport Minister Adil Siddiqui has claimed that the decisions for revival of circular railway with start of its operation in January and to make Pakistan Railway a corporation are being praised in public circles.

The minister stated this on his return here on Wednesday after attending a meeting of the task force regarding Karachi Circular Railway under the chairmanship of Prime Minister Shaukat Aziz in Islamabad.

He claimed that Sindh did not have so many resources to bear such a huge expenditure and, therefore, the task force had decided that the railway as an autonomous corporation would approach the banks for financial assistance.

Adil Siddiqui said that from January 2005, the KCR operation would start from Drigh Road to City Station in the first phase and from Orangi Town to SITE and Baldia in the second phase for which all preparations had been finalized. He said that KCR project would be completed in 12 to 18 months at a cost of Rs3.5 billion. -APP

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