ISLAMABAD: Minister for Finance and Economic Affairs Senator Ishaq Dar on Friday proposed Rs 78 billion budget for Pakistan Railways for the fiscal year 2016-17.
In his budget speech, the minister said that out of the total allocation Rs 41 billion are in Public Sector Development Programme (PSDP) for 40 development schemes and Rs 37 billion for pay and pensions of railways employees.
Dar said that private and international investments are expected during the course of the financial year in the sector as well. He said that the government will give priority to track rehabilitation project between Khanpur-Lodhran.
“We aim to start work on doubling and improving of existing track from Port Qasim to Bin Qasim Station this year,” he said, adding that this is an important China-Pak Economic Corridor Project (CEPC). He said that Pakistan Railways faces shortage of locomotives and for this reason, an amount of Rs 14 billion has been allocated for procurement and manufacture of new locomotives. In addition, rehabilitation of rolling stock will also continue, he said.
The minister said that repair work on around 800 coaches and 2000 wagons will be completed by this year. He said that newly launched Green Line train express between Islamabad-Karachi is the result of efforts of the Pakistan Railways.
He said that Pakistan Railways will target its investments around locomotives, bogies, tracks, signaling system and improvement of existing railway stations.
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