Federal Railways Minister Mian Shamim Haider has said that Pakistan Railway (PR) would be converted into a state-owned corporation in July 2005, and necessary preparations are underway in this connection. He expressed these views while talking to Business Recorder at an inaugural ceremony of local Branch of PICIC on Saturday.
The Minister further said that the privatisation of the national asset (PR) was not on the cards yet, however they were concentrating on the rebuilding of the organisation. He said that rehabilitation of the Pakistan Railways and making it viable entity was their topmost priority and currently they were vigorously working to achieve the goal.
"Although they lack funds for the rehabilitation of railway track, as the government was squeezed for money, they were seeking assistance from the World Bank, Asian Development Bank and the Japanese government, and it was expected that they would sanction funds for rehabilitation projects," he added.
To a question Shamim said at preset they were endeavouring to control operational cost, increase Pakistan Railways revenue and start rehabilitation projects.
He said that under the rehabilitation project, at present they were working on laying double-track between Lahore and Lodhran at the cost of Rs 350 million, and its was expected to be completed in two years.
"They were trying to attain funds from the World Bank to meet the shortage of funds," he added.
According to him, they were also planning to lay a railway track between Karachi and Afghanistan, via Chaman, to cater transport of goods to Afghanistan. He said that the project would cost Rs 450 million and it would take around one-year for its completion.