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Pakistan

PR sends Rs4 billion PC-1 to Finance Ministry

ISLAMABAD : Pakistan Railways (PR) has sent Rs4 billion PC-1 to the finance ministry for bailout package. The mini
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By Imad Uddin
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ISLAMABAD: Pakistan Railways (PR) has sent Rs4 billion PC-1 to the finance ministry for bailout package.

The ministry on Aug 5, announced Rs10 billion for bailout package. Out of that amount Rs6 billion was to be paid by bank consortium while the remaining amount by the finance ministry.
In the new PC-1 the PR said Rs2 billion will be spend to repair the signal system while Rs2 billion to be spent on 500 passenger coaches, 50 power vans and other such things.
Before this in December 2010, amount worth Rs11 billion was announced for PR after approval by the prime minister.

 

Copyright NNI (News Network International), 2011

 

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