Pak Railways to pay 15% charges to REDAMCO

Islamabad : The 7th Railway Board Meeting was convened on Friday in the Ministry of Railways. In the meeting it was

decided that as REDAMCO (Railway Estate Development & Marketing Company Pvt Ltd) engenders revenue so it will take 15 per cent service charges from Pakistan Railways. This will develop self-reliance of REDAMCO.

Its main tenacity is to commercially exploit the surplus Railway land. Another agenda item which was discussed during the meeting was reconstitution of Railway Board under Pakistan Railways Strategic Plan (PRSP).As per this plan the new Railway Policy Board may comprise Secretary Railways, Member Railways (CEO Pakistan Railways),Member Finance

from Ministry of Railways and Secretary Finance, Member Infrastructure MPRD, Independent Member (Customer),Independent Member (transport sector),Member Private Sector (Private Railway Association) and Secretary Railways Board. This assembly of Railway Policy Board will appear after Cabinet approval.

The meeting was attended by Muhammad Javed Anwar, Chairman, MOR, Altaf Asghar, Senior joint Secretary Communication, Abdul Hameed Razi, CEO PR, Zahoor Ahmed, Senior Joint Secretary Finance Division, Syed Tanveer Bukhari, Senior Chief Transport and Communication, Faisal Ismaeli, Member Finance MOR and Zubair Shafi Ghauri , Secretary Railway Board.