Islamabad: The feasibility study of China-Pakistan Economic Corridor (CPEC)’s Karachi Circular Railway (KCR) and Railways Freight Corridor projects will be completed by the middle of August, a high-level meeting was told.
Federal Minister for Planning, Development and Special Initiatives Asad Umar chaired the meeting to review the status of preparation and processing of KCR and Railways Freight Corridor projects. Important issues related to the freight corridor were discussed and review in the meeting, said an official statement issued here.
“The meeting was informed that the feasibility study of the Freight Corridor has been completed. It has been decided in the meeting that in order to gauge the level of investor’s interest, all relevant important decisions must be taken within a month’s time by all the concerned departments,” added the statement.
Federal Minister for Railways Azam Khan Swati, Secretary Planning, Secretary Railways and senior officials of both Ministries participated in the meeting.
“The feasibility study of KCR will be completed by the middle of August. Keeping in view the importance of this flagship initiative; the meeting decided that a separate project be prepared for the civil structure of KCR for completing the project on a fast-track basis. The PC-1 for civil structures must be brought for processing for approval and subsequent funding through PSDP (Public Sector Development Projects) at the earliest. Simultaneous work on both the components of KCR will result in months of time saving and completion of the project,” the statement said.