On Wednesday, Pakistan Railways announced to the Senate Standing Committee on Pakistan Railways (PR) that it will be implementing a public-private partnership to bring four smart railway vehicles on various routes.
Secretary of Railways Syed Mazhar Ali Shah declared during the meeting that Pakistan Railways is dedicated to pursuing public-private partnerships and that the organisation plans to install four smart railway cars for routes between Lahore-Islamabad, Lahore-Faisalabad, Lahore-Multan, and Karachi-Hyderabad at a cost of about $45 million.
He said that private companies will donate a percentage of the earnings to keep the tracks maintained as part of this public-private collaboration.
Along with Secretary Syed Mazhar Ali Shah and other high-ranking officials, Senators Saifullah Sarwar Khan Nyazee, Kamil Ali Agha, and Dost Ali Jessar attended the meeting, which was led by Senator Jam Saifullah Khan.
Shah gave the committee an update on the functioning and operations of the ministry. He argued that compared to cars, railways were 72% more environmentally friendly and 62% safer.
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He emphasised how railroads might boost the economy by reducing the cost of oil imports. Even with its potential, the nation’s first transportation strategy wasn’t created until 2018, with the goal of offering long-lasting, economical, safe, and ecologically friendly transportation.
Though financial limitations were impeding the company’s efforts, Pakistan Railways was currently aiming to become self-sufficient by growing its market share from 8% to 30%.
According to the secretary, only 5% of the railway money went towards maintenance; the majority (95%) went towards fuel, pensions, and salaries. Pension-related obligations would total around Rs. 62 billion for the fiscal year 2024�2025.
The federal government has been asked to include railway pensioners in the national account, and Pakistan Railways has taken steps to reduce operating costs.
The secretary gave an update on the ML-1 project, stating that the $6.68 billion ML-1 upgrade project has been approved by ECNEC.
The first phase of the project will upgrade the railway track from Karachi to Multan. The second phase will upgrade the track from Multan to Peshawar. In addition to visiting the railway workshops in Lahore and Islamabad to assess their performance, the committee resolved to have an exclusive meeting focused on the ML-1 project.
Improving rail services and encouraging efficiency are the objectives. Pakistan Railways hopes to repair the tracks and promote greener, safer transportation by enlisting the help of private companies. This is a great step in the direction of updating the rail system!
Utilising contemporary technology can result in more efficient operations, less delays, and better scheduling.
The initiative’s overall goal is to improve passenger satisfaction and increase the practicality and efficiency of train travel.