ISLAMABAD:

The government has decided to float bonds to arrange financing for a railway track project planned for transporting copper and gold from mines in Balochistan.

Sources told The Express Tribune that in a recent meeting of the Economic Coordination Committee (ECC), the Ministry of Finance emphasised the importance of the rail line project.

The ECC noted that success would depend on contributions from Barrick Group and Reko Diq Mining Company (RDMC), which were providing bridge financing, and to refinance the scheme, bonds would be floated. It was pointed out that 7% of the funding would come from securitisation, while the rest would be provided by the government of Pakistan. The project duration is estimated at 37 years.

The Finance Division pointed out that the Railways Divisi

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