PM orders commercial financing plan for ML-1 upgrade

Prime Minister Shehbaz Sharif has ordered that the Main Line-1 railway upgrade be financed on commercial terms, using the land owned by Pakistan Railways. According to Profit by Pakistan Today, the instruction was issued at a review meeting on railway reforms held in Islamabad. Shehbaz also asked officials to speed up ML-1 work and bring corporate-style management to the railway.

The 1,726-kilometre corridor, which forms part of the China-Pakistan Economic Corridor, links Karachi with Peshawar. Meeting participants were told the project has four segments: Karachi-Rohri, Rohri-Multan, Multan-Lahore and Lahore-Peshawar. International funding is being used for the Karachi-Rohri stretch, while domestic-resource plans are being drawn up for the others, officials said.

The prime minister has given officials two weeks to present a detailed scheme for monetising railway property and obtaining bank loans for the project. He also praised the National Accountability Bureau and Railways Ministry teams for recovering encroached railway land. Shehbaz added that the upgrade is important for passenger services and freight growth.