Pakistan Railways chugs to a halt after China waves red flag
By
Ateet Sharma ( IANS) |
Published on
Wed, Feb 17 2021 13:33 IST |
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Pakistan Railways chugs to a halt after China waves red flag (Indian Narrative). Image Source: IANS News
New Delhi, Feb 17 : The Imran Khan government is struggling badly to keep Pakistan Railways on track after putting all its eggs in the Chinese basket and Beijing pulling the plug on financing various projects under the China Pakistan Economic Corridor (CPEC), the flagship project of its Belt and Road Initiative (BRI).
Pakistan daily The Express Tribune had in December reported that the Xi Jinping government had sought additional guarantees before sanctioning a $6 billion loan for Main Line-1 (ML-1) project due to weakening financial position of Pakistan.
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• During PML-N’s term Railways earning increased to Rs50bn from Rs18bn
• Railways pension bill has ballooned to Rs38bn against its regular salary bill of Rs27bn
• Decline began with the rise of NLC in the late 1970s
RECENTLY, new Railways Minister Azam Khan Swati revealed that the Pakistan Railways had suffered accumulated losses of Rs1.2 trillion in the last 50 years. “The company has incurred 90 per cent of these losses in last two decades alone,” he told journalists in Peshawar weeks ago.
“The average loss is between Rs35-40 billion a year,” he said, adding the government planned to revive the collapsing organisation sooner than later. But how? He didn’t elaborate.
Lahore
January 24, 2021
LAHORE:The opposition is hiding behind politics, democracy and parliament to save its corruption, said Railways Minister Azam Khan Swati in a press conference held at Railways Headquarters here on Saturday.
He said the opposition would get nothing if it comes to Islamabad. The opposition will be badly defeated, he said. He says, “I will distribute sweets when the opposition resigns from the assemblies.”
Only Speaker Asad Qaiser and Senate Chairman Sadiq Sanjrani can call the NAB chairman, said Swati while responding to a question. He said, “What Shibli Faraz said he was right.”
In the Broadsheet case, those whose hands are black will face consequences and their faces will also be black, said Azam Swati. Railways Minister Azam Khan Swati asked for a year to run the railways. He set a target of Rs 36 billion freight.