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Govt to inject Rs 10.2 billion in Pakistan railways
ISLAMABAD: Federal Government on Friday gave approval to issue more than Rs 10 billion funds to Pakistan Railways to overcome the deficit.Restoration Committee of the Cabinet directed the railway officials to end the problem of delay in the trains schedule before Eid.
The restoration committee of the cabinet met here with the Federal Finance Minister Dr Abdul Hafeez Sheikh in chair. The meeting decided to provide Rs 10.2 billion to Pakistan Railways.
According to the details, Rs 6 billion would be received from consortium of banks while Rs 4 billion would be issued from development budget. The meeting decided that Rs 6 billion would be spent on purchasing and maintenance of engine while Rs 4 billion would be spent to buy fuel and maintenance of railway tracks.
Pakistan Railways have been directed to prepare PC1 to get funds. Meanwhile, railway official said that PC1 would be prepared till Monday while improvement would also be witnessed in Pakistan railway within six months.
Federal Minister for Privatisation Ghaus Bakhsh Mehar, Federal Railway Minister Ghulam Ahmad Bilour and Federal Minister for Religious Affairs Khursheed Shah attended the meeting.
Courtesy www.geo.tv