Cabinet body decides to commence financing discussion over ML-1project with China

ISLAMABAD, Aug 26 (APP):The Cabinet Committee on China-Pakistan Economic Corridor (CPEC) Monday decided to commence financing discussion over ML-1 project with China to finalize its mode and PC-1.

Federal Minister for Planning, Development and Reform Makhdoom Khusro Bakhtiar, while chairing the committee meeting, said it was a very important project under the CPEC portfolio and the government was committed to fast track it.

He said the CPEC was now entering into next phase with incorporation of new additional areas and for the purpose there was a need for an integrated entity in the form of CPEC Authority.

The committee decided that the draft act of the authority to be presented to federal cabinet for approval.

The meeting, which was attended by federal ministers Sheikh Rasheed (Railways) and Ali Zaidi (Maritime Affairs), Advisor to the Prime Minister on Commerce, Textile and Industry Abdul Razzak Dawood, Deputy Chairman of Planning Commission Dr Jahanzeb Khan and Secretary Planning Zafar Hasan, also reviewed progress of many other projects under the CPEC framework. The secretary planning gave a detailed presentation to the participants on the projects.