Federal budget 2020-21 focuses CPEC, allocates Rs24 billion for up-gradation of Main Line-1 (ML-1)

ISLAMABAD, Jun 12 (APP):The government has allocated Rs80 million in Public Sector Development Programme (PSDP) 2020-21 for one on- going scheme of the Board of Investment (BOI) for the industrial promotion and Investment in the country.

According to the details, the government has allocated Rs80 million for establishment of Project Management Unit (PMU) on China Pakistan Economic Corridor – Industrial Cooperation Development Project (CPEC-ICDP) in PSDP 2020-21 for industrial cooperation between Pakistan and China.

The total estimated cost of the Project Management Unit (PMU) of China Pakistan Economic Corridor – Industrial Cooperation Development Project (CPEC-ICDP) is Rs 339.281 million, it added.

The government has planned to make a considerate effort to address the freight share imbalance between road and rail sectors through provision of adequate funding for the Rail sector with focus to improve the reliability and time efficiency for the railways. The project of ML-I upgrdation under CPEC framework will be implemented, said a budgetary document released on Friday.

“In particular, sufficient resources have been earmarked for the projects related to China-Pakistan Economic Corridor (CPEC), including its western route. For this purpose, Rs118bn have been allocated. Similarly, Rs24bn have been earmarked for ML-1 and other projects of Pakistan Railways and additional funds of Rs37bn for other projects of communication sector,” The maximum allocation (ongoing projects) of Rs 1,000.000 million has been made for the construction of East-Bay Expressway, Rs 312.127 million for Pak-China Technical and Vocational Institute at Gwadar,and Rs.85.779 million for the feasibility study of construction of Breakwaters.

The budgetary allocations for new schemes include Rs 319.300 million for acquisition of Marine Services Vessel for Gwadar Port, Rs 111.450 million for acquisition of Mobile Cranes and Fort Lifters for Gwadar Port, Rs 200.000 million for construction of Gyone Wall/ Breakwater and allied works at East Bay Gwadar, and Rs 148.000 for feasibility study of capital dredging of berthing areas and channel for additional terminals.

June 12, 2020: The Annual Development Plan (ADP) 2020-21 has indicated that the ML-1 (Main Line-I) – a flagship project of Pakistan Railways – had a potential to create 174,000 direct jobs in the country.

The initiative was aimed at upgrading and dualizing Peshawar to Karachi (1872 km) track under the China Pakistan Economic Corridor (CPEC), said the budget document released on Friday.

Nine special economic zones (SEZs) would be established under CPEC portfolio, which would create job opportunities and technological transformation, it said, adding priority would be given to align technical institutions and training with CPEC related trades and demand of SEZs.