Pakistan and China to Sign Loan Agreement for ML-1 Rail Project
The new Pakistani government is reportedly close to signing a loan agreement with China for the development of the Main Line 1 railway project. This ML-1 Rail Project can improve the existing railway system of the country.
The upcoming government of Pakistan plans to conclude negotiations with Chinese authorities on the financing terms for the Main Line-1 (ML-1 rail project), a key initiative under the China-Pakistan Economic Corridor (CPEC).
According to Amir Ali Baloch, Chief Executive Officer of Pakistan Railways (PR), discussions will focus on the loan’s interest rate, repayment period, and other financial conditions.
This development follows the completion of all preparatory stages of the project, with only the loan agreement pending.
The ML-1 rail project aims to upgrad...