Pakistan Railways Minister Khawaja Saad Rafique said on Thursday that the framework agreement for an investment of Rs 1000 billion on up gradation of PR’s Main-Line (ML-1), signed with China was a big breakthrough for the Pakistan Railways.

Addressing a press conference at the PR headquarters, he said that these funds would be spent on the up gradation of Peshawar to Karachi track, PR Walton Academy Lahore, and up gradation of Havelian Container Terminal.

He said that this investment would transform the railways, and the people of Pakistan would see new railways in near future.

The minister said that under this agreement, the ML-1 track would be upgraded for a speed of 160 km/hour, double track would be laid, fencing would be installed in populated areas along the track, automatic modern signalling system would be introduced for accident-free travelling, and new locomotives of 160 km/hour speed would become part of the railways.

The minister congratulated the prime minister for the successful visit. He thanked the Pakistan Army and its organisation, Frontier Works Organisation (FWO), saying that all institutions are working with the PR and the engineers of the Pakistan Army Signals Department had developed a modern signalling system for level crossings.

The minister said that the Railways had earned Rs 36 billion in the previous year, and it is expected to earn Rs 41 billion this year. The Railways revenue is likely to reach Rs 53 billion in future, he added.

To a question, the minister said that development in China is unmatched in the world and the OBOR is very important, adding that Prime Minster Nawaz Sharif took a right initiative and signed the China-Pakistan Economic Corridor (CPEC) agreement with China.

He made it clear that the investment is only for the ML-1 and it would be for five to six years time period, adding that the PR needs 30-35 billion US dollars for a complete transformation.