Latest
UK lifts restrictions on Pakistan airlines after five-year ban July 17, 2025
Three Killed, seven injured in gun attack on passenger bus near Kalat July 17, 2025
Rawalpindi, Islamabad record 168mm rainfall amid continuous downpour July 17, 2025
Pakistan navy chief calls for enhancing drone capabilities for maritime security July 17, 2025
Israel attacks Syria’s Damascus amid fighting in Suwayda July 17, 2025
Next
Prev
  • Home
  • Pictorial News
  • Videos
  • Your Story
  • About Us
  • Contact Us
  • Archives
  • Privacy Policy
  • Home
  • Pictorial News
  • Videos
  • Your Story
  • About Us
  • Contact Us
  • Archives
  • Privacy Policy
  • Home
  • Pictorial News
  • Videos
  • Your Story
  • About Us
  • Contact Us
  • Archives
  • Privacy Policy
  • Home
  • Pictorial News
  • Videos
  • Your Story
  • About Us
  • Contact Us
  • Archives
  • Privacy Policy
Home Uncategorized

AND THE STORY OF PLUNDER GOES ON IN PAKISTAN: KCR approved at 44% higher cost

Editor by Editor
September 27, 2023
in Uncategorized
0
AND THE STORY OF PLUNDER GOES ON IN PAKISTAN: KCR approved at 44% higher cost
0
SHARES
10
VIEWS
Share on FacebookShare on Twitter

The government on Tuesday approved China-funded Karachi Circular Railway (KCR) project at a cost of Rs292.4 billion, which was 44% higher than initial estimate, after it managed to thwart boycott of meeting by the Economist Group, which was protesting against discrimination. Central Development Working Party (CDWP), in its meeting, referred the KCR project to Executive Committee of National Economic Council (Ecnec) for approval. Its cost includes a Chinese loan of Rs263 billion, or $1.1 billion, under China-Pakistan Economic Corridor (CPEC) framework.

Last government of Pakistan Tehreek-e-Insaf (PTI) had approved financing structure of the project based on public-private partnership (PPP) mode. But current coalition government has instead decided to take a Chinese loan of $1.1 billion to implement the project on model of Lahore Orange Metro Line. CDWP meeting was crucial for the federal government and Sindh government, as they were keen to pitch the project to Chinese authorities during this week’s meeting of CPEC Joint Cooperation Committee (JCC). Planning Minister Ahsan Iqbal negotiated with the Economist Group and sought more time for meeting its demand, as the group had threatened to force postponement of CDWP meeting.

The government had failed to fulfill its promise to award 150% executive allowance to officers of the group, as the allowance has only been given to blue-eyed bureaucrats by compromising on principles of fairness and equity. In the budget, Pakistan Administrative Service (PAS) group got the 150% executive allowance, but many other service groups including Foreign Service, Commerce and Trade, Inland Revenue Service and Customs Service were excluded. As a result, serious discrepancies have surfaced in their salaries and people doing less work are now receiving more monetary benefits. Planning minister assured the Economist Group that its reservations would be addressed once Finance Minister Ishaq Dar returned from a foreign trip.

The Economist Group has given a second five-week deadline to the government, although its first deadline of 10 days ended on Monday without yielding any results. KCR scheme, under CPEC framework, will be executed and operated by the government of Sindh through Karachi Urban Transport Corporation. Right of Way of KCR will be handed over to the Sindh government. The project envisages construction of a 44-kilometre-long dedicated track. However, loan repayment plan has not been shared by the Sindh government, since the project is not financially viable and it will only be able to meet its operation and maintenance expenses.

Tags: KCR approved at 44% higher cost

Archives

  • July 2025
  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • December 2020

Srif Pakistan is a news website offering the latest updates and insights on current affairs in Pakistan.
Follow Us
Facebook-f X-twitter Instagram

Quick LInks

  • Home
  • About Us
  • Videos
  • Your Story
  • Contact Us
  • Privacy Policy

Recent Post

Uncategorized

UK lifts restrictions on Pakistan airlines after five-year ban

July 17, 2025
Uncategorized

Three Killed, seven injured in gun attack on passenger bus near Kalat

July 17, 2025

Newsletter

Subscribe to our mailing list to receives daily updates direct to your inbox!
*we hate spam as much as you do
© 2025 Srif Pakistan. All rights reserved.
  • About Us
  • Contact Us
  • Privacy Policy

Add New Playlist

No Result
View All Result
  • About
  • Archives
  • coming soon
  • Contact us
  • Home
  • Home LGCD
  • Homepage
  • Homepage
  • Homepage1
  • News in pic
  • Newsletter
  • Privacy Policy
  • Privacy Policy
  • R.W Page
  • R.W Page
  • Sample Page
  • test
  • Videos
  • Your Story
  • Youth Corner
  • Youth Corner home

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?

Notice: ob_end_flush(): Failed to send buffer of zlib output compression (0) in /home/sirfpak1/public_html/wp-includes/functions.php on line 5464