Ahsan chairs meeting on financing of ML-1 Rohri-Multan section

ISLAMABAD, Aug 28 (APP): Federal Minister for Planning, Development and Special Initiatives, Ahsan Iqbal on Friday chaired a meeting of a committee constituted on the directives of Prime Minister, Shehbaz Sharif to explore financing options for the Rohri-Multan section of the Main Line-1 (ML-1) railways project.

The meeting was briefed that during the last 10 years, 399 train derailments and 158 accidents had occurred due to the deteriorating condition of the railway lines, highlighting the urgent need for its upgradation, a news release said.

“Upgrading the ML-1 railways line is our priority,” Ahsan Iqbal said, adding that work on the Karachi-Rohri section would commence during the current fiscal year.

The Director General, Frontier Works Organization (FWO) briefed the meeting on the construction of the Rohri-Multan section through private-sector investment. The estimated cost of the section was stated to be more than Rs 450 billion.

The minister directed that a feasibility study of the project should be conducted through a credible third party to ensure an objective assessment of its technical and financial viability.

He also directed the Ministry of Railways to complete its homework regarding the financing requirements for locomotives, cargo rolling stock and passenger coaches.

“How much financing will be required for locomotives, cargo rolling stock and coaches?” the minister asked, directing the ministry to work out comprehensive financing requirements for the railway’s rolling stock needs.

Ahsan Iqbal observed that continued cuts in the development budget were adversely affecting projects of national and public importance.

He stressed the need for exploring innovative financing options and greater private-sector participation to ensure timely implementation of strategically important railways infrastructure projects.