: China plans to finance $ 8 billion for Pakistan Railways’ Peshawar Karachi Railway Line (ML-1)
China has shown its interest to fully finance over $8 billion for upgrading Pakistan Railways’ Mainline (ML-1) by enhancing amount of China Pakistan Economic Corridor (CPEC) up to $54 billion from earlier committed amount of $51.5 billion.
“Chinese banks are interested to fully finance upgrading rail network in Pakistan and its financing arrangement will be finalised during the upcoming visit of Prime Minister Nawaz Sharif to China on the eve of international conference on initiative of One Belt One Road (OBOR) in coming May this year,”