Rs46.3bn sought for railway projects in next budget
The Ministry of Railways has sought Rs46.3 billion in the upcoming budget for improving and expanding railway infrastructure under the Public Sector Development Programmed 2022-23.
In a meeting of the Senate Standing Committee on Railways held on Monday, the ministry laid out its future strategy, including business development, infrastructural development, and the availability of rolling stock, such as locomotives, carriages, wagons or other vehicles used on a railway.
Railways Minister Muhammad Azam Khan Swati told the meeting, chaired by Senator Muhammad Qasim, that the ministry’s performance had started to improve, as a revenue of Rs2 billion had been generated during the past six months and was likely to double by the end of this fiscal year.
Mr Swati emphasized the need for creating a regulatory body that would amplify and streamline the accountability of organizational assets, including 186,000 acres of railways land. He said the land would be leased out for commercial projects to set up a continuous source of income for the railways.