Karachi Circular Railway Project Final decision tomorrow
This mega project from Japan to Pakistan 60 million to $ 2 billion loan for just 0.1% of the nominal interest rates may have to pay. mabad: Pakistan and Japan between US $ 2.60 billion worth of Karachi Circular Railway Project for a final decision will begin in Islamabad on Monday.
According to sources in the context of a high level delegation of Japanese Development Agency JICA is present in Pakistan, the delegation of the Economic Affairs Division and other relevant ministries and divisions have been meeting with officials. Karachi Circular Railway sources said that talks all about working on the project have been completed, negotiations about the fate of Karachi circular railway project will be finalized.
Sources of Karachi circular railway project which has created many complications due to delayed project. Sources Karachi circular railway project between Pakistan and Japan not only has a consensus. But Pakistan to Japan by 0.1 percent on the nominal interest rate for 40-year term loan of $ 2.60 billion has been approved in principle. And their residential colony to form the government of Japan to the proposal did not agree and Japanese officials told the circular railway project to the victims of 15 to 20 million Approximate per family per compensation by providing space evacuated will be Japan had also agreed to the proposal. Apart from Japan to Pakistan said that Pakistan Railways in Karachi circular railway track site to be transferred. The boundary wall of the building and the site should be working on the project and residents of Japanese investors and companies to get protection.Sources said that Pakistan’s domestic measures to implement the plan, which was to cost 10 billion that the Government of Pakistan to bear. Domestic sources say the plan still did not work and neither the next fiscal year’s budget has been allocated for it. Sources from the government of Pakistan to Japan, it is said that Japan as soon as 2 billion 60 million loan will launch Green Single Domestic With this plan will be launched.
Japan says the domestic plan before beginning to work on and then allocate the funds for the project will be given a green light. Sources said that the Pakistan Japan this mega project for 2 billion 60 million loan only 0.1% of the nominal rates of interest have to pay the loan term of 40 years for and the loan for 10 years including a grace period.
But by the Pakistan government domestic debt due to delay in the implementation of the plan is delayed and the delay in the project’s cost is also increasing. Sources at the meeting said Monday Karachi circular railway project, which will be reviewed after the project’s fate will be decided.