Last update: Wed, 25 Jan 2017 04am
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Karachi metro bus project; Bahria town to give Rs 42 billion loan

Bahria Town will give a Rs 42 billion loan to Sindh government for Karachi Metro Bus project. The decision was made a high level meeting in which former president Asif Ali Zardari, Bahria Town Chairman Malik Riaz, Sindh Chief Minister Qaim Ali Shah and members of the provincial cabinet unanimously approved the Karachi Metro Bus project.

According to reports, the 54-kilometre-long two routes of the bus service connect Super Highway on the outskirts of the city with Merewether Tower at the start of MA Jinnah Road and II Chundrigar Road in the business and financial hub of Karachi and Super Highway with airport via Malir Cantt. The estimated cost of this infrastructure project is around Rs 70 billion. Bahria Town has agreed to give a Rs 42 billion loan to Sindh government. Sindh government will seek Rs 20 billion from the federal government and invest Rs 8 billion from its own resources.

Copyright News Network International, 2015