PR open to public-private partnership, says Sheikh Rasheed

ISLAMABAD: A delegation of International Monetary Fund (IMF), chaired by its resident representative Teresa Daben Sanchez, met with Federal Minister for Railways Sheikh Rasheed and discussed various issues on Thursday.

According to a statement released from the ministry, the IMF delegation was interested in finding out measures to reduce fiscal deficit of Pakistan Railways (PR) and to reduce its dependency on government’s subsidy.

Talking to the delegation, Sheikh Rasheed mentioned that the speed of trains will be increased and will expand its freight sector to increase profit.

“We want to increase freight trains’ number to 8 to 15”, he said and added that that ML I (Karachi-Peshawar) will be upgraded on priority.

The minister said that right now, PR has broad gauge but gradually it will be changed into standard gauge.

On a question from IMF team on Public Private Partnership (PPP), he said that Pakistan Railways is open to PPP.

Sheikh Rasheed Ahmad left for China today with PM Imran Khan. During his visit PR’s projects under CPEC and upgradation of ML I, II and III will be discussed.

He will also have side meetings with authorities of National Railways Administration (NRA), National Development Reform Commission (NDRC) and China Railways Engineering Group(CREC).