Railways' financial crisis due to lack of investment: Shaikh Rasheed
- By Web Desk -
- Mar 01, 2019
ISLAMABAD: Federal Railways Minister Sheikh Rasheed Ahmed on Thursday said that Pakistan Railways was facing a severe financial crisis and termed lack of investment as key issue being faced by the department.
Rasheed made the statement during a briefing session by development projects to the Senate Standing Committee on Railways. He said that the final decision regarding ML-1 has not been made so far despite the provision of Rs4 billion. However, the department was out of funds to fulfil the demand for additional Rs7 billion for its designing.
He said that secret of Gwadar’s successfulness was railway track but not the road network and China has also agreed with Pakistan’s stance. He announced inclusion of Quetta, Taftan, Herat and Kandahar routes in China-Pakistan Economic Corridor (CPEC) project after discussions with Beijing in the visit of Prime Minister Imran Khan expected on April 27 this year.
While briefing on illegal possession of railway land, the minister said that the authorities have actively recovered land from grabbing mafia till Takht-i-Bahi.
Rasheed said he had left railway signalling programme worth Rs8 billion since assuming charge of Pakistan Railways 15 years ago while its current financial value stood at Rs32 billion.
The standing committee was also provided briefing by PR Chief Engineer and Civil Operations over progress on CPEC projects. The chief engineer said the department put focus to complete Havelian-Khunjerab railway network till 2030 that would play a significant role in connecting with China.
Read More: Pakistan, China agree to improve cooperation in railways
Railway officials apprised the committee that the railway department will upgrade everything within the period of the next 5 years besides increasing number of freight trains.
Citing threats amid rising escalation between Pakistan and India, Chairman of the standing committee Muhammad Asad Ali Khan Junejo directed railway officials to put on high alert amid emergency situation. He said that the nation was standing side-by-side with Pakistani armed forces. He added that Pakistan Railways always played role as important defence institution in past.