Prime Minister Shehbaz Sharif ordered the authorities to link Rekodiq with the Pakistan rail network for 2028 to improve future transport and cargo services.
By chairing a meeting focused on the improvement of the Pakistan railroads and the proposed extension to Rekodiq, the prime minister also instructed the formation of an interministerial committee to administer the financing for the project.
The Committee has the task of presenting recommendations on the necessary funds both for the development of the rail network and for its expansion to Rekodiq.
During the meeting, the prime minister was informed about the progress of the Railway Projects ML-1 and ML-3, which are part of the broader strategy of Pakistan Railways to meet the future needs of transport and load services.
Prime Minister Shehbaz stressed that Pakistan Railways is a vital component of the country’s economy and communication systems, describing it as a cheap, fast and ecological mode of transport.
He stressed that the connection between the Railway Network and Rekodiq would stimulate the Baluchistan mining and mineral sector while creating new employment opportunities for residents.
The meeting was attended by several senior government officials, including the Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar, Defense Minister Khawaj Fatemi, and other reports of the railroads.
This development occurs after the Minister of Finance, Muhammad Aurengzeb, announced that the World Bank Group had approved a loan of $ 700 million for the Reko Diq mining project, despite the strong opposition of India, which tried to block the necessary investment to meet the total financing requirement of $ 3 billion of the project.
The World Bank Group approved the concessional package by rejecting Indian objections, Aurangzeb said while talking during a meeting of the Senate Permanent Committee on Finance.
Of the total, the International Finance Corporation (IFC) will provide $ 300 million, and the International Development Association (IDA) will expand $ 400 million, both part of the World Bank Group. This marks the third instance in the last month where India has not been able to block loans.
