News

Check out market updates

China assures support to Gwadar rail link plan

BEIJING: China assured its support to Pakistan connecting Gwadar seaport with the rest of the country through rail link.

Chinese railways minister Liu Zhijun during his meeting with his Pakistani counterpart Mian Shamim Haider held here on Saturday gave the assurance.

The two sides reviewed their on-going cooperation in the railways sector and agreed to take further steps facilitating each other in socio-economic development.

Talking to APP, Mr Haider said he conveyed to the Chinese side Pakistan’s concern regarding supply of nine defective locomotives.

He said he was assured on behalf of the Chinese government that the defects would be rectified according to the satisfaction of the Pakistan Railways.

It was decided the contract signed between state-run China’s Dongfang Electric Corporation and Pakistan Railways will be implemented in letter and spirit. The corporation agreed to provide five-year bank’s guarantee to ensure proper working of the locomotives.

The Chinese side accepted the responsibility to repair the defective parts of the locomotives, making them functional forthwith. If needed, these would also be replaced. During the meeting, the Chinese minister reassured his country’s financial and technical help for replacing the existing outdated railway tracks and signaling system. China’s support based on transfer of technology, enabling Pakistan to meet all its railway’s requirements indigenously.

The Chinese companies including China National Machinery Import and Export Corporation have already signed agreements with the Pakistan Railways for supply of locomotives, passenger coaches and freight wagons to improve speed and other facilities for railway customers. app

Soure: Daily Times

Discuss, analyse & share your views (kindly avoid sharing your email & contact number for your safety)