Pakistan, China agree to slash ML-1 project from $9.8 to $6.7 billion

In a major development, Pakistan and China have agreed to reduce the cost of the ML-1 project from $9.8 billion to $6.7 billion, reported 24NewsHD TV channel on Wednesday.

Federal Secretary for Railways Syed Mazhar Ali Shah told 24NewsHD TV channel that Pakistan had got a big success regarding the ML-1 project during Prime Minister Anwaarul Haq Kakar’s visit to China.

“With the ML-1 project, the Pakistan Railways will be built on modern lines,” he said.

“Under the China-Pakistan Economic Corridor (CPEC), the ML-1 project has strategic importance,” he added.