The Finance Minister Dr Abdul Hafeez Shaikh, Minister for Railways Ghulam Ahmad Bilour and Religious Affairs Minster Khurshid Shah on Thursday discussed a plan for the comprehensive restructuring of Pakistan Railway and hiring consultants to revive it. The meeting proved unfruitful as no concrete decision or proposal came out of it. On the directives of Prime Minister Syed Yousaf Raza Gilani all three ministers sat together to come up with a solution for the recuperation of Pakistan Railways.
They deliberated at length over the financial requirements of the Pakistan Railways, agreed to initiate action in this regard and discussed the restructuring process. Sources told Pakistan Today that another meeting would be held today in which different options for the revival of railway would be discussed. Pakistan Railway is facing a financial crunch and has demanded the release of funds approved by the federal cabinet in order to revive it.
In the last few days due to shortage of fuel PR asked for Rs3.5 billion to make payments to Pakistan State Oil (PSO) and other administrative expenditures. The finance ministry has released Rs2.15 billion to railway to overcome the crisis for the time being. In a meeting on June 24 with Minister for Railways Ghulam Ahmed Bilour the Finance Ministry agreed to release Rs11.5 billion by next month under bailout package approved by the federal cabinet in December last year. Pakistan Railways has demanded Rs11.5 billion for maintenance and rehabilitation of railway out of which Rs6.1 billion are to be spent on maintenance of 145 locomotives, Rs2 billion each on rehabilitation of tracks and coaches and one billion rupees are to be reserved for future use.
Pakistan Railway has 550 locomotives out of which 360 are dysfunctional at the moment. The finance minister, minister for railway, deputy
chairman planning commission secretary finance, communication and other concerned officers would take part in today’s meeting.
