KCR: JICA's frustration.
CHIEF Justice Gulzar Ahmed had ordered the federal government to make the Karachi Circular Railway (KCR) operational within two years. (Feb 21).
Railway Minister Sheikh Rashid Ahmad speaking at a press conference stated that encroachments around the KCR tracks would be removed within the next 30 days.
The then Economic Coordination Committee of the federal cabinet on Jan 1, 2013, had allowed Pakistan Railways to revive the KCR as a modern commuter system with the help of Japan International Cooperation Agency (JICA) loan of $2.40 billion at a markup of 0.2 per cent. It was repayable in 40 years.
This amount was 93.55pc of the soft loan...
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