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KARACHI (July 06 2010): The Senate Standing Committee on Railways has directed the concerned stakeholders to resolve issues pertaining to $1.58 billion Karachi Circular Railway (KCR) project within 10 days. According to sources, the unresolved issues related to the KCR project were discussed in a meeting of the committee held here on Monday.
The meeting of the committee was held under the chairmanship of Senator Maulana Gul Naseeb Khan. Haji Ghulam Ahmed Bilour, Federal Minister for Railways, Senator Pervaiz Rasheed, Senator Abdur Rasheed, Senator Dr Khatu Mal and Senator Abdul Ghaffar Qureshi, Senator Maulana Abdul Ghafoor Hyderi and Nauman Islam Sheikh, Parliamentary Secretary for Railways also attended the meeting.
The committee has also advised the Pakistan Railways to hold a joint meeting of all stakeholders of Karachi Urban Transport Corporation (KUTC) within 10 days for finalisation of all the pending issues and completion of formalities by July 30, 2010 and report to be submitted to the committee, they said.
Talking to Business Recorder, Ijaz Hussain Khilji, Managing Director, KUTC, said that all outstanding issues including the resettlement of the affectees of KCR project, which was needed to be resolved immediately were discussed. He said until the allocation of land and resettlement process were not started the practical work on the project could not be possible.
Responding to a question, he said that the re-lending of funds for the much-awaited project was also being discussed and it would also be resolved soon. Additional General Manager, Pakistan Railways, informed the committee that Pakistan Railway being the main shareholder has principally fulfilled all its obligations and remaining other modalities will be discussed with the government of Sindh.
According to sources, the Board of Directors of KUTC will also meet on July 14 to discuss the project and its outstanding issues. The presentation was made by MD KUTC after amicably resolving the dispute between Malir Development Authority and PR for clearing a location for the resettlement of thousands of affectees of KCR project, sources claimed.
Some studies have been done on this project like Environmental Impact Assessment Study (EIAS), resettlement action plan etc under the aegis of Japan External Trade Organisation (JETRO).
The KCR project, started to mitigate traffic problems in this metropolis, was to be funded by government of Japan through the Japan Bank of International Co-operation (JBIC). Tokyo has commissioned 100 percent funding for the project under "Step Loan" at 0.2 percent mark-up rate for a 40-year payback time, including a 10-year grace period.
The meeting of the committee was held under the chairmanship of Senator Maulana Gul Naseeb Khan. Haji Ghulam Ahmed Bilour, Federal Minister for Railways, Senator Pervaiz Rasheed, Senator Abdur Rasheed, Senator Dr Khatu Mal and Senator Abdul Ghaffar Qureshi, Senator Maulana Abdul Ghafoor Hyderi and Nauman Islam Sheikh, Parliamentary Secretary for Railways also attended the meeting.
The committee has also advised the Pakistan Railways to hold a joint meeting of all stakeholders of Karachi Urban Transport Corporation (KUTC) within 10 days for finalisation of all the pending issues and completion of formalities by July 30, 2010 and report to be submitted to the committee, they said.
Talking to Business Recorder, Ijaz Hussain Khilji, Managing Director, KUTC, said that all outstanding issues including the resettlement of the affectees of KCR project, which was needed to be resolved immediately were discussed. He said until the allocation of land and resettlement process were not started the practical work on the project could not be possible.
Responding to a question, he said that the re-lending of funds for the much-awaited project was also being discussed and it would also be resolved soon. Additional General Manager, Pakistan Railways, informed the committee that Pakistan Railway being the main shareholder has principally fulfilled all its obligations and remaining other modalities will be discussed with the government of Sindh.
According to sources, the Board of Directors of KUTC will also meet on July 14 to discuss the project and its outstanding issues. The presentation was made by MD KUTC after amicably resolving the dispute between Malir Development Authority and PR for clearing a location for the resettlement of thousands of affectees of KCR project, sources claimed.
Some studies have been done on this project like Environmental Impact Assessment Study (EIAS), resettlement action plan etc under the aegis of Japan External Trade Organisation (JETRO).
The KCR project, started to mitigate traffic problems in this metropolis, was to be funded by government of Japan through the Japan Bank of International Co-operation (JBIC). Tokyo has commissioned 100 percent funding for the project under "Step Loan" at 0.2 percent mark-up rate for a 40-year payback time, including a 10-year grace period.
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