Pakistan: Lack of Chinese funds halts Yellow Line project

Image
ANI Islamabad [Pakistan]
Last Updated : May 08 2017 | 4:57 PM IST

The Yellow Line mass transit project has hit a snag in Pakistan, as the Chinese company tasked with building parts for the bus rapid transit system has so far been unable to arrange funds through its financial institutions.

The Yellow Line BRT is part of the six Bus Rapid Transit (BRT) corridors that were proposed by Japan International Cooperation Agency (Jica) to improve the traffic situation in Karachi. The line stretches from Landhi to New M.A. Jinnah road and is one of the several metro bus projects for the citizens.

The 26.5-kilometre-long Yellow Line project is yet to be built with an estimated cost of Rs14.4 billion with 104 new buses on the route.

Sindh Transport Minister Nasir Shah confirmed the current status, but vowed that the provincial government was determined to initiate the project this year and if its Chinese partner remained unable to meet the terms of the contract, it would re-launch the project "with someone else", reported Dawn.

The Sindh government has reportedly sent reminders to the Chinese company to finish the work in three months or the project will be re-tendered.

The red line project is expected to be launched in July. The government has reportedly completed all formalities with Asian Development Bank regarding the project.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: May 08 2017 | 4:57 PM IST

Next Story