KARACHI – Pakistan Railways (PR) is tirelessly working to lure private sector investment to address its idle capacity and under utility, said Railways General Manager Ashfaque Khattak. Talking to APP on Thursday after a seminar organised in collaboration with Infrastructure Project Development Facility (IPDF), Khattak said that the primary purpose was to boost public-private partnership. He said that Railways was suffering from a financial deficit of Rs 26 billion, however, it could be overcome with better marketing and by attracting private sector investment, particularly, in freight business.
He said that the Railways has introduced an Open Access Policy for the private sector to invest in freight or passenger train business and added that the Government of Punjab was working hard to attract foreign investment for its various inter-city stations. “We have an assurance to the private investors that this is not a short term but a long term and protective investment policy, which will not be affected by any change in government policy,” he pointed out while responding to various questions of the media.
He said all leakages in the Railways were being plucked with due care and already a number of investigations were underway against various grade officers.
Earlier, in his address and presentation to the private sector representatives, he said that as policy formed by the government, the Railways was also changing its policy from public sector to business sector entity to overcome its losses in collaboration with the private sector.
“It is worst time for the Railways but there is big potential to invest in this sector,” he maintained. He said that PR, currently, has a work force of 85,000 in various cadres, 500 locomotives, 1772 passenger coaches and 17,573 freight wagons operating all over the country, with 559 stations.
Speaking on the occasion, the Infrastructure Project Development Facility (IPDF) CEO Adil Anwar said that PR has surplus capacity on its infrastructure which can be utilised by the private sector for operations of freight trains carrying oil, container cargo, rock phosphate, coal, cement and general cargo to predetermined destinations for there was significant market demand. Under the policy, he said that the private sector will be allowed to finance, own, maintain and operate their trains through payment of Track Access Charge to PR for a predetermined concession period.
Railways bid to lure private sector investment
