Pakistan Railways gets money to keep it running

December 30th, 2010 - 2:12 pm ICT by IANS  

Islamabad, Dec 30 (IANS) A package of Rs.11.1 billion ($128 million) has been approved for the Pakistan Railways for repair of 145 locomotives, improvement of tracks, maintenance of coaches and strategic reserves to buy fuel, a minister said.Minister for Information and Broadcasting Qamar Zaman Kaira said that the federal cabinet Wednesday approved the financial package of Rs 11.1 billion for Pakistan Railways.

He said the package would be utilized for repair and rehabilitation of 145 locomotives, improvement of tracks, maintenance of coaches and strategic reserves to buy high speed diesel.

Associated Press of Pakistan quoted Kaira as saying that the railway ministry made a detailed presentation before the cabinet on its current state of affairs, immediate needs and future plans.

The cabinet agreed to support Pakistan Railways to meet its immediate needs to keep it running till the finalisation and implementation of restructuring plan.

It also agreed to enhance overdraft facility to Pakistan Railways by the State Bank of Pakistan to the tune of Rs.10 Billion which would be converted into long term loan.

In Pakistan, it was May 13,1861 that first railway line was opened for public traffic between Karachi City and Kotri, a distance of 105 miles.

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