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Railways Ministry likely to get loan from NBP

27 November, 2012

ISLAMABAD: Ministry of Railways is likely to get a loan of Rs 6.1 billion from National Bank of Pakistan next month for repair of railway engines.

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ISLAMABAD: Ministry of Railways is likely to get a loan of Rs 6.1 billion from National Bank of Pakistan next month for repair of railway engines. Sources told Online that resolution of the issue of payment of the amount was being delayed due to conflict between Ministry of Finance and Ministry of Railways. The Railway Ministry held the stance that subordinate institution of Pakistan Railways would pay the loan, however, in the opinion of the Finance Ministry, the Railways department should borrow the loan itself and return it on its own.

Now both the parties have agreed on the methodology of return of the loan, which will be granted next month, sources added. Sources informed that after the release of the debt, work on repair of railway engines would start.

End.


 
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