Key Takeaways
- Prime Minister Shehbaz Sharif directed authorities to accelerate work on the ML-1 railway upgrade.
- A plan was approved to use commercial projects on railway land to secure bank financing for the ML-1 upgrade.
- The prime minister emphasized the need for corporate-style reforms to make Pakistan Railways financially sustainable.
Prime Minister Shehbaz Sharif has directed authorities to accelerate work on the Main Line-1 (ML-1) railway upgrade and introduce corporate-style reforms to make Pakistan Railways financially sustainable. At a review meeting, the prime minister approved a plan to use commercial projects on railway land to secure bank financing for the ML-1 project.
Sharif directed the authorities to prepare a comprehensive plan within two weeks to unlock the commercial potential of railway land and use the proceeds and bank financing towards the ML-1 project. He stressed that the modernisation of ML-1 was critical to the development of Pakistan Railways, improving passenger services and increasing freight transportation.
The prime minister said that identified railway land worth billions of rupees should be utilised on a commercial basis to help finance the construction of ML-1. He also called for the railway’s assets to be used more effectively to contribute to both the national economy and the development of the railway system.
Corporate-style reforms to strengthen and make Pakistan Railways economically self-sufficient are among the government’s priorities, Sharif said. He praised the efforts of teams from the National Accountability Bureau (NAB) and the Ministry of Railways, led by NAB Chairman former Lt Gen Nazir Ahmed Butt, in identifying and recovering encroached railway land.
The meeting was informed that the 1,726-kilometre ML-1 upgrade had been divided into four major sections: Karachi-Rohri, Rohri-Multan, Multan-Lahore, and Lahore-Peshawar. The Karachi-Rohri section is being pursued with international financing, while plans are being developed to finance the remaining sections through domestic resources.
Minister for Railways Hanif Abbasi is working to improve operations and make the organisation profitable. The meeting was attended by key officials including Minister for Planning Ahsan Iqbal, Finance Minister Muhammad Aurangzeb, Economic Affairs Minister Ahad Cheema, and State Bank of Pakistan Governor Jameel Ahmad.
The prime minister highlighted the importance of using railway’s valuable property effectively for commercial purposes. The efforts of the NAB and Ministry of Railways in identifying and recovering encroached railway land were praised by the prime minister.
Officials briefed the meeting on various stages of the ML-1 project, progress on the Karachi-Rohri section, and the status of railway-owned land. The prime minister’s directive aims to ensure the financial sustainability of Pakistan Railways and the successful completion of the ML-1 project.
