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Pakistan and China on Thursday agreed to execute the Mainline-1 (ML-1) railway project

Pakistan and China on Thursday agreed to execute the Mainline-1 (ML-1) railway project

Pakistan and China on Thursday agreed to execute the Mainline-1 (ML-1) railway project

Pakistan and China on Thursday agreed to execute the Mainline-1 (ML-1) railway project

According to authorities, Pakistan and China agreed on Thursday to carry out the Mainline-1 (ML-1) railway project at a cost of $10 billion.
The Joint Coordination Committee (JCC) also agreed to pursue business-to-business transactions through the China-Pakistan Economic Corridor (CPEC). Pakistan will also request a deposit rollover and rescheduling of its $27 billion debt.

During the discussion, Pakistan informed China that it will take many steps to ensure the safety of Chinese workers on CPEC projects. Both parties have committed to increase their collaboration in information technology, with Chinese businesses establishing research centres in Pakistan to explore new paths in this industry.

Pakistan and China virtually convened the 11th JCC meeting, however neither party could sign the meeting minutes. The minutes of the meeting are likely to be signed during Prime Minister Shahbaz Sharif’s impending visit to China, which will begin on November 1, 2022, with a high-powered group.

The CPEC conference was place in Islamabad, and both parties expressed pleasure with the current CPEC projects, while numerous new projects were offered. The conference was co-chaired by Planning Minister Ahsan Iqbal and Vice Chairman of China’s National Development and Reform Commission (NDRC), Lin Nianxiu.

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