ISLAMABAD – A delegation of Pakistan Railways (PR) officials, headed by Railways Minister Ghulam Ahmad Bilour will meet President Asif Ali Zardari on Monday to plead a bailout from bankruptcy.
Reportedly, Finance Minister Dr Abdul Hafeez Sheikh and Petroleum Minister Dr Asim Hussain would also be present in the meeting.
“Railway officials will ask the government to raise monthly subsidy from Rs 2 billion to Rs 4 billion in order to keep the railway on tracks,” a PR source told Pakistan Today. He said the department was facing a financial crisis due to budgetary constraints, as the Finance Ministry was not releasing the bailout money.
In today’s meeting, the delegation will try to convince the president to finalise a comprehensive national transport policy to make railways an efficient public sector organisation, he said, adding that various options including public-private partnership would also be discussed. A PR official said the Finance Ministry had rejected the department’s request for releasing Rs 156 million to pay salaries.
Railways top management faced embarrassment when it was denied a meeting with Zardari in Islamabad last Tuesday. The official added that the ministry had promised to release Rs 6 billion in November under the bailout package. He said the government would borrow the money from commercial banks to give it to the Railways. Shortage of locomotives has recently ended PR freight service, and not a single cargo train could leave Karachi for the upcountry destinations.