ADB shows interest in modernising Pakistan Railways infrastructure

ISLAMABAD: The Manila-based Asian Development Bank (ADB) has shown interest in mutual cooperation with Pakistan Railways (PR) to modernise its infrastructure, rolling stock and human resource management. This was discussed during a meeting attended by Werber E Liepopach, DG Central and West Asia Department, ADB with Mrs Parveen Agha, Chairperson, Ministry of Railways on Monday.

The ADB viewed that despite recent developments, the railway sector needs to exalt its infrastructure to provide more inexpensive transport services and recover the market share lost to roads.

Up-gradation of the Risalpur Locomotive Factory, procurement of new locomotives and Freight Company was also discussed. The ADB showed interest in co-financing. Mr Werber cleared that the ADB finance will be the seed money to bring in the commercial financing. This co-financing will be done through public, private partnership. The ADB will play an active role in identifying and arranging commercial co-financing for Pakistan Railways’ projects. Ms Xiahong Yang, Country Director, ADB Pakistan and Mazhar Ali Shah , DG Planning, Ministry of Railways, also attended the meeting.