PM Approves Commercial Use of Billions Worth of Railway Land to Fund ML-1
As the administration seeks to produce Pakistan Railways financially self-sufficient, prime Minister Shehbaz Sharif has directed authorities to employ railway land for commercial purposes to assist fund the upgradation of Main Line-1 (ML-1).
As the administration seeks to produce Pakistan Railways financially self-sufficient, prime Minister Shehbaz Sharif has directed authorities to employ railway land for commercial purposes to assist fund the upgradation of Main Line-1 (ML-1).
Article outline
- What happened
- The key numbers
- The bottom line
Key points
- IMF Reaches Staff-Level Agreement With Pakistan on 4th EFF Review, Unlocking $1.2 Billion Loan.
- He pressed a more effective lending system and asked the Small and Medium Enterprises Development Authority (SMEDA) to take steps to strengthen the capacity of SMEs.
- The session additionally reviewed the National Bank of Pakistan's lending performance.
- Shehbaz directed authorities to develop ML-1 on a commercial basis by utilizing railway land worth billions of rupees that has been encroached upon.
- Obtain the latest business news, market insights, and economic updates wherever you prefer.
Chairing a session on railway reforms on Wednesday, the prime minister called on faster progress on ML-1 and the introduction of corporate-style reforms to strengthen the railway system and improve its financial position.
Shehbaz directed authorities to develop ML-1 on a commercial basis by utilizing railway land worth billions of rupees that has been encroached upon. He additionally praised the National Accountability Bureau and the Ministry of Railways for their joint efforts to identify and recover the encroached land.
In a separate session on access to finance, the prime minister directed authorities to remove obstacles preventing the flow of financing to housing, agriculture and small and medium enterprises (SMEs).
For context, the session additionally reviewed the National Bank of Pakistan's lending performance. Shehbaz welcomed the bank's 76 percent loan approval rate for housing finance and pressed other provinces to digitize their land records on the Punjab model to produce it easier for banks to provide housing loans. Stay Connected with ProPakistani.
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In short, PM Approves Commercial Use of Billions Worth of Railway Land to Fund is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.
