KARACHI: Bahria Town will give Rs42 billion loan to Sindh government for Karachi Metro Bus project, local media reported on Friday.
The decision was made in a high level meeting, where former president Asif Ali Zardari, Bahria Town Chairman Malik Riaz, Sindh Chief Minister Qaim Ali Shah and members of the provincial cabinet unanimously approved the Karachi Metro Bus project.
According to reports, the 54-kilometre long two routes of the bus service connect Super Highway on the outskirts of the city with Merewether Tower at the start of MA Jinnah Road and II Chundrigar Road in the business and financial hub of Karachi and Super Highway with airport via Malir Cantt.
The estimated cost of the grand infrastructure project is around Rs70 billion. Bahria Town has agreed to give Rs42 billion to Sindh government on a 154-year loan to complete the project.
Sindh government will seek Rs20 billion from the federal government and invest Rs8 billion from its own resources.