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China, Pakistan sign Rs162b loan agreement for Lahore Orange Line Metro Train Project

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BUSINESS DESK: Punjab government and Exim Bank of China Minister’s Office have signed an agreement on Monday for the provision of funds for the Orange Line Metro Train Project of Lahore.

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Exim Bank of China will disburse Rs162 billion for Lahore Orange Line Metro Train Project under the agreement which was inked in a ceremony where chief minister Shahbaz Sharif was chief guest.

CM felicitated the people of Pakistan over having signed the agreement for the provision of funds for the mega project. He stated that after accomplishment of the project, it would facilitate 0.25 million people who will travel by it.

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“Under the agreement, the project will be completed in 27 months. Every effort will be made for its completion within 24 months. A verbal commitment has been reached with Chinese authorities in this regard,” said the CM.

He was of the view that the project would bring Chinese technology to Pakistan and will create more opportunities for employment.

Bragging about his initiatives, CM said the Lahore Orange Line Metro Train Project was the massive and greatest of the Punjab.

“China has provided funds for the project on extremely soft terms. The agreement was signed in May last year. The reason for delay in the project start is the sit-ins of last year,” added Shahbaz.

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