PM directs Finance Ministry to increase PRs credit line

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ISLAMABAD: Prime Minister Raja Pervez Ashraf on Wednesday directed Finance Ministry to increase Railways credit line from Rs 1.5 billion to Rs 2 billion for purchasing diesel to ensure smooth and punctual operation of trains particularly on long distances.

He gave this directive while presiding meeting attended by Railways Minister, Haji Ghulam Ahmed Bilour and Finance Minister Dr Abdul Hafeez Sheikh.

Finance Ministry would also provide Rs 6.1 billion to purchase locomotives, spare parts tenders for which would be opened on July 22, 2012. National Logistic Cell would repair 30 locomotives and American company 27.

It was decided secretary finance will expedite removing irritants in early procurement of 75 locomotives from China. It was agreed to hire highly qualified professionals to head Asset Management Company of Railways to look after its surplus land and its commercial use to generate additional revenue.

End.