PM directs linking of Rekodiq with railway network by 2028
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Prime Minister Shehbaz Sharif on Tuesday directed authorities to link Rekodiq with Pakistan's railway network by 2028 to enhance future transportation and cargo services.
Chairing a meeting focused on the upgradation of Pakistan Railways and the proposed extension to Rekodiq, the Prime Minister also instructed the formation of an inter-ministerial committee to manage financing for the project.
The committee is tasked with presenting recommendations regarding the necessary funds for both the development of the railway network and its expansion to Rekodiq.
During the meeting, the PM was briefed on the progress of the ML-1 and ML-3 railway upgradation projects, which are part of Pakistan Railways' broader strategy to meet the future needs of both transportation and cargo services.
PM Shehbaz highlighted that Pakistan Railways is a vital component of the country's economy and communication systems, describing it as a cheap, fast, and environmentally friendly mode of transport.
He emphasised that the connection between the railway network and Rekodiq would stimulate Balochistan's mining and minerals sector while creating new employment opportunities for residents.
The meeting was attended by several senior government officials, including Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar, Defence Minister Khawaja Muhammad Asif, Minister for Economic Affairs Ahad Khan Cheema, Minister for Maritime Affairs Junaid Anwar Chaudhry, Minister of State for Railways Bilal Azhar Kayani, Special Assistant to the Prime Minister Tariq Fatemi, and other key officials.
This development comes after Finance Minister Muhammad Aurangzeb announced that the World Bank Group had approved a $700 million loan for the Reko Diq mining project, despite strong opposition from India, which attempted to block the investment needed to meet the project's total $3 billion financing requirement.
The World Bank Group approved the concessional package by rejecting Indian objections, Aurangzeb said while speaking during a meeting of the Senate Standing 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 past month where India has failed to block lending.
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