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Ministry of Railways will spend around Rs 22.8 billion to execute 37 projects for rehabilitation of its infrastructure and reinvigorating services in the fiscal year 2012-13, making the organization a profit-earning entity.
"During the year 2012-13, the priority will be given to the procurement of new locomotives as the railways is currently facing shortage of around 500 locomotives," Federal Minister for Railways Haji Ghulam Ahmed Bilour told APP here on Monday.
He said an amount of Rs 6.1 billion has been sanctioned as a commercial loan for repair of 96 locomotives.
The Minister said planning commission has approved three major schemes at a cost of Rs. 35 billion to support railway revival.
Letter of Interest (LoI) has been issued for rehabilitation of 27 locomotives, he added.
Tenders for procurement of 150 new locomotives are under evaluation. He said around 150 locomotives to be rehabilitated while procurement of 75 locomotives is in pipeline.
He further said around 150 coaches to be manufactured during 2012-13. Project for doubling of track between Karachi and Lahore to be completed by December 2012.
Two new projects for doubling of track between Lahore-Faisalabad and Lahore-Lalamusa will be launched in 2012-13. Around 2,261 acres of encroached land has been recovered since January 2012, he added.
Bilour said a `Project Management Unit' was also being established in the ministry that would help execute different projects in a smooth manner avoiding any procedural delays.
"Two dry ports will be set up at Prem Nagar and at Shershah Railway Station for which Rs494 million and Rs485 million have been allocated respectively," the minister maintained.
To a question he said the available locomotives have average age of 33 years while in rest of the world this is about 20 years. More than 55 percent track is overage, 70 percent of freight wagons are of low-capacity and 86 percent of bridges are more than 100 years old. He said that signalling system of PR is mostly obsolete.
Earning up to June 20, 2012 was Rs14.92 billion as compared to Rs18.04 billion during the same period last year.
He said the ministry has planned short-term solution to keep PR functional. It plans rationalization of services including stoppage of uneconomical routes, repair of old locomotives on war footing and reactivate Pakistan Railway Board.
Keeping in view these measures, "we expect that PR revenue would likely increase to Rs14.1 billion in 2011-12 and Rs23 billion for the year 2012-13.
PR to execute 37 projects in upcoming fiscal year
"During the year 2012-13, the priority will be given to the procurement of new locomotives as the railways is currently facing shortage of around 500 locomotives," Federal Minister for Railways Haji Ghulam Ahmed Bilour told APP here on Monday.
He said an amount of Rs 6.1 billion has been sanctioned as a commercial loan for repair of 96 locomotives.
The Minister said planning commission has approved three major schemes at a cost of Rs. 35 billion to support railway revival.
Letter of Interest (LoI) has been issued for rehabilitation of 27 locomotives, he added.
Tenders for procurement of 150 new locomotives are under evaluation. He said around 150 locomotives to be rehabilitated while procurement of 75 locomotives is in pipeline.
He further said around 150 coaches to be manufactured during 2012-13. Project for doubling of track between Karachi and Lahore to be completed by December 2012.
Two new projects for doubling of track between Lahore-Faisalabad and Lahore-Lalamusa will be launched in 2012-13. Around 2,261 acres of encroached land has been recovered since January 2012, he added.
Bilour said a `Project Management Unit' was also being established in the ministry that would help execute different projects in a smooth manner avoiding any procedural delays.
"Two dry ports will be set up at Prem Nagar and at Shershah Railway Station for which Rs494 million and Rs485 million have been allocated respectively," the minister maintained.
To a question he said the available locomotives have average age of 33 years while in rest of the world this is about 20 years. More than 55 percent track is overage, 70 percent of freight wagons are of low-capacity and 86 percent of bridges are more than 100 years old. He said that signalling system of PR is mostly obsolete.
Earning up to June 20, 2012 was Rs14.92 billion as compared to Rs18.04 billion during the same period last year.
He said the ministry has planned short-term solution to keep PR functional. It plans rationalization of services including stoppage of uneconomical routes, repair of old locomotives on war footing and reactivate Pakistan Railway Board.
Keeping in view these measures, "we expect that PR revenue would likely increase to Rs14.1 billion in 2011-12 and Rs23 billion for the year 2012-13.
PR to execute 37 projects in upcoming fiscal year
