ML-1 should be financed partly through commercialisation of railway land, says PM
Prime Minister Muhammad Shehbaz construction of Main Line-1 (ML-1) should be undertaken on a commercial basis by utilising the identified lands worth billions of rupees of Pakistan Railways. The development came during a review meeting on reforms in Pakistan Railways was held in Islamabad under the chairmanship of PM Shehbaz. In the meeting, the PM directed officials to expedite work on the…
Prime Minister Muhammad Shehbaz emphasized on February 3, 2023, that the construction of Main Line-1 (ML-1) ought to be financed through commercialization of railway lands worth billions of rupees. The directive came during a review meeting in Islamabad focused on reforms in Pakistan Railways. The PM directed officials to expedite the upgrade of ML-1 and to introduce corporate-style reforms in the institution.
The ML-1 project, integral to the China-Pakistan Economic Corridor (CPEC), seeks to modernize Pakistan Railways' Main Line-1, a 1,733 km stretch from Peshawar to Karachi. The ADB pledged support for the ML-1 Railway project.
The Prime Minister praised the efforts of teams from NAB and the Ministry of Railways, spearheaded by the NAB Chairman, in identifying and disposing encroached railway lands. He highlighted the significance of upgrading ML-1 for improving passenger travel and boosting freight transport. He stressed on harnessing the commercial potential of railway properties to contribute to the national economy and institution development.
The Prime Minister approved using bank financing for ML-1 construction via various commercial projects on railway land. He directed the submission of a comprehensive plan for commercializing disposed railway lands within the next two weeks.
Written by urgent.news from Business Recorder's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
