Money matters: Negotiations on Orange Line’s finances underway

A delegation of lawmakers, officers left for China on Wednesday

LAHORE: While preliminary work has begun on the Orange Line Metro Train, an agreement is yet to be reached with Chinese authorities on terms of financing it, The Express Tribune has learnt. 

A senior official of the Federal Ministry of Finance said a high-level delegation of parliamentarians and officials of federal and provincial governments had left for China on Wednesday to negotiate the financial terms for the China Pakistan Economic Corridor (CPEC), the Lahore Orange Line Metro Train and some other infrastructure projects.

He said over the next couple of days, the delegation would hold a series of meetings with their Chinese counterparts and officials of the Exim Bank of China to negotiate the terms and conditions of various infrastructure projects.

The delegation comprises Federal Minister for Planning and Development Ahsan Iqbal, Senators Mushahid Hussain Syed, Nuzhat Sadiq, Hasil Bizenjo, Afrasiab Khattak, Nawabzada Saifullah Magsi, Balochistan Minister for Planning Hamid Khan Achakzai, senior officials of the Economic Affairs Division, the Ministry of Finance, the Planning Commission of Pakistan and the Punjab Mass Transit Authority.

He said it was too early to comment on the timeline or the date of completion of these projects.

“Such projects might require extensive negotiations at various levels.”

The official said that the fate of the projects would be clear next week after they received minutes of the meetings held in China.

The Lahore Orange Line Metro Train is expected to cost Rs165 billion will be constructed with technical and financial cooperation from China.

Published in The Express Tribune, August 13^th, 2015.