$2.5 Billion Loan To Improve Pakistan Railway System – Research Snipers

$2.5 Billion Loan To Improve Pakistan Railway System

The Federal Minister for Railways Khawaja Saad Rafique spoke at a seminar on the topic “Future of Pakistan Railways and Logistics in the light of CPEC”. He said that CPEC is a long term planned investment and corporation between China & Pakistan and should not be made in to a controversial issue. He said that CPEC would bring development and growth in the country with economic boost that would help strengthening the nation.  

Talking about the advancement of the rail track Main Line-1 from Karachi to Peshawar, the huge project under CPEC, Khawaja Saad Rafique said that there should not be any debate or politics on CPEC.

Read more: Rs598.493 billion released by government for various development projects

He talked about the One Belt, One Road (OBOR) forum which was attended by the Chief Ministers of all four provinces. He said that the presence of leaders from all provinces created an optimistic picture of the country worldwide.

He stressed on the importance of democracy throughout his speech. He said that all best proposals that can benefit railways are considered. Railway cannot depend on just one best prospect.

Furthermore he spoke that railways might receive $2.5 billion concessionary loan. This loan would be granted by Asian Development Bank (ADB). It would be used to establish and consolidate various departments of railways.

 Moreover minister said that railway is working free of any political interference. The hiring procedures in this sector are fair and square. Further improvements are being made in the railway sector which includes facilitating pension citizens by introducing computerized pension system. As per the Minister there has been improvement to 80% in train punctuality, 20-day fuel stock present in railway, computerized system of 96% railway land plus legal affairs and IT directorate has been established.

The recovery of Pakistan Railway is in process, for further improvement, advancement and expansion time would be required, as per Khawaja Saad Rafique.