Prime Minister Shehbaz Sharif has ordered the authorities to link Rekodiq to the Pakistani rail network by 2028 to improve future transport and freight services.
President of a meeting focused on upgrading the Pakistani railways and the projection of the extension in Rekodiq, the Prime Minister also asked the training of an inter-ministerial committee to manage the financing of the project.
The Committee is responsible for presenting recommendations concerning the funds necessary for the development of the rail network and its expansion in Rekodiq.
During the meeting, the Prime Minister was informed of the progress of projects to modernize railways ML-1 and ML-3, which are part of the wider strategy of Pakistan railways to meet the future needs of transport and freight services.
The PM Shehbaz stressed that Pakistan railways are a vital component of the country’s economy and communication systems, describing it as a cheap, fast and environmentally friendly mode of transport.
He stressed that the connection between the rail network and the Rekodiq would stimulate the mining and mineral sector of Balutchistan while creating new job possibilities for residents.
The meeting was followed by several senior government officials, including the Deputy Prime Minister and Minister of Foreign Affairs Mohammad Ishaq Dar, Minister of Defense Khawaja Muhammad Asif, Minister of Economic Affairs, Ahad Khan Cheema, Minister of Maritime Affairs Junaid Anwar Chaudhry, Minister of State for the Railways Bilal Kayani, special assistant of Prime Minister Tariq Fattemi other.
This development comes after the Minister of Finance Muhammad Aurangzeb announced that the World Bank group had approved a loan of $ 700 million for the Reko Diq extraction project, despite strong opposition from India, which tried to block the necessary investment to meet the requirement of total financing of $ 3 billion in the project.
The World Bank group approved the concession package by rejecting the Indian objections, said Aurangzeb when he spoke at a meeting of the Senate Committee on Finance.
Of the total, $ 300 million will be provided by the International Finance Corporation (IFC), and $ 400 million will be extended by the International Development Association (IDA), both part of the World Bank group. This marks the third instance in the last month when India did not blocked loans.
