Pakistan Railways come up with innovative plan to overcome deficit
ISLAMABAD – Pakistan Railways has come up with an innovative plan to overcome the deficit of the organization.
PR is planning to sell out as many as 10 commercial plots worth billions of rupees located in Lahore and Karachi division to overcome the deficit of the organization.
Presently Pakistan Railway’s deficit is Rs 40 billion while the department is also under the debt of Rs 25 billion, an official in the Ministry of Railways told media.
They said the minister has directed the Railways Real Estate Development Company (REDIMCO) to formulate a master plan for the sale of commercial land of the department as soon as possible.
The sources said that Pakistan Railways assets will be utilized through public-private joint ventures. All the Divisional Superintendents of Lahore, Karachi, Quetta, and Peshawar have been appointed as focal persons in this regard.