ISLAMABAD: Pakistan Railways requires 500 locomotives to meet anticipated freight and passenger traffic in next ten years.
The process was underway for upgradation and commercial operations of Pakistan Locomotive Factory Risalpur on joint venture basis with private sector participation, an official in the Ministry of Railways told APP.
He said with this in view many companies of the world are ready to enter into cooperation with Pakistan Railways for assembly and manufacturing of locomotives and other activities.
The process of induction of new locomotives has been started and an order for 55 high horsepower has been placed on General Electric of the United State of America, he added.
He said the government was taking concrete measures to make the Pakistan Railway as profitable entity as the fiscal deficit of Pakistan Railways for year 2014-15 stands at Rs 27.247 billion as compared to the financial 2013-14 which was Rs 32.527 billion.
To a question, the official said that railway network was already connected to its neighbouring countries to Iran through Quetta-Taftan link.
"The present government has singed a Memorandum of Understanding (MoU) with Turkish Railway for revival of fright train service," he added.
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