ISLAMABAD: Prime Minister Shehbaz Sharif has directed authorities to accelerate work on the Main Line-1 railway upgrade and improve the financial sustainability of Pakistan Railways.
The prime minister chaired a meeting on railway reforms and approved a plan to use the commercial potential of railway land to help arrange financing for the ML1 project.
Authorities have been directed to prepare a comprehensive plan within two weeks covering the commercial development potential of identified railway land.
The government intends to use commercial projects and bank financing to support construction of the major railway upgrade.
Shehbaz also called for corporate-style reforms in Pakistan Railways to improve its financial performance.
The ML1 project is considered important for improving passenger services and expanding freight transportation capacity.
The prime minister said railway assets worth billions of rupees should be used more effectively to generate resources for modernisation.
The latest directives are aimed at moving the project forward while reducing the financial burden on the government.
The authorities will now prepare the required commercial and financing proposals for further consideration.
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