Pakistan, China vow to speed up ML-1 project

Pakistan and China have reaffirmed their commitment to advancing the upgrade of the Main Line-1 (ML-1) railway project, agreeing to prioritise the construction of the Karachi-Hyderabad section as part of phase one, in line with the phased approach for the project’s implementation. In a joint statement issued by the Ministry of Foreign Affairs, both nations pledged to refine and optimise the construction plan for ML-1’s Karachi-Hyderabad section and to formulate feasible and sustainable plans for financing and implementation. Pakistan expressed its deep appreciation for China’s continued support in maintaining fiscal and financial stability. Both countries also praised the extension of the China-Pakistan Bilateral Currency Swap Arrangement and agreed to further strengthen cooperation in the financial and banking sectors. They pledged to support each other within regional and international multilateral financial platforms.