Ministry of Finance increases credit ceiling of Pakistan Railways to Rs.2 billion

ISLAMABAD: The government has increased the existing line of credit of Pakistan Railways to Rs2 billion through Pakistan State Oil (PSO).

According to a letter issued by Finance Division here on Saturday, this decision has been taken by keeping in view the financial constraints faced by Pakistan Railways.

Ministry of Railways, Pakistan State Oil, and Ministry of Petroleum and Natural Resources has been informed accordingly, says a statement issued by the Ministry of Finance here.

It may be mentioned here that the issue was discussed in detail during a meeting held on August 4, 2011 by the Finance Minister Dr. Abdul Hafeez Shaikh in the chair.

Copyright APP (Associated Press of Pakistan), 2011