This is to draw the attention of our policymakers to the overall viability of the much-touted ML-1 railway project. It is estimated to cost around $6 billion. Chinese commercial banks, however, are reluctant to offer the loan. One wonders whether we really need such a costly project. There are many cost-effective options that the authorities can look into to construct the second track from Karachi to Peshawar. Also, the existing railway signalling system is almost a hundred years old, which is the root cause of the numerous disastrous train accidents. In Pakistan, train passengers are not bothered by the time taken by a train to complete a single journey. Taking a huge amount of loan for this particular railway project is not wise. The country is already neck-deep in foreign debt.
Another thing that the government should do is to replace the country’s outdated and heavily overloaded electric transmission system. If done properly, Pakistan can easily save around 4,500 megawatts of electricity. The PTI frequently criticises the past government for its decision to obtain foreign loans for multiple non-productive projects. The ruling party should not repeat this mistake. The hesitation of China should be seen as a blessing for the country which must look towards other options.
Khalid Ismail
Islamabad
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