Pakistan Eyes $2.7 Billion Loan From China To Build Rail Track Under CPEC

Under the China Pakistan Economic Corridor (CPEC) project, Pakistan is eyeing for $2.7 billon loan from China for upgrading a 1,872 kilometers-long railway track stretching from Peshawar to Karachi. For the upgradation, officials have decided that out of the total estimated expenditure of $6.1 billion, Pakistan will ask for only $2.73 billion initially.  According to a Pakistan daily, the interest rate can be higher than that of requested by Pakistan.