Pakistan Railways, in collaboration with China, will lay a high-speed double track from Karachi to Peshawar.
The mode of financing for this project is yet to be finalized. It is estimated to cost billions of Rupees, as reported by Railways Minister on Tuesday.
Federal Railways Minister Sheikh Rasheed Ahmed on this auspicious occasion said, “We, along with China, will lay a double track from Karachi to Peshawar with minimum speed of 160 (kilometres per hour) and maximum of 260 if and when we get the go-ahead from the government.”
Railways Minister was speaking to media at the Karachi Cantt Station after seeing off the first scheduled cargo train under public-private partnership on the Karachi-Lahore route. Governor Sindh Imran Ismail was accompanying him.
Railway Minister said PM Imran Khan would soon announce his decision on the source of financing for the Karachi-Peshawar high-speed rail project. It is yet to be finalized whether it would be loan, an investment, build, operate and transfer mechanism, public-private partnership or joint venture.
Railways Minister revealed about adding old railway tracks, which would be replaced by new ones, would be utilized for other routes later, “The decision is to be taken by the Prime Minister Imran Khan and this will be decided before March 23 so that work can be kick-started.”
“As we are laying a railway track network across the country, the increase in train fares has become inevitable,” he remarked. He blamed previous rulers for the increase in fares as corruption on their part had caused price hikes and inflation.
Sheikh Rasheed also announced the promotion of Pakistan Railways employees on the basis of grades 4.