Rs 21.1 billion for Railways approved by Cabinet

The Cabinet on Wednesday approved Rs 21.1 billion for Pakistan Railways to enable it to run its affairs, and the Prime Minister directed that a plan for restructuring of Pakistan Railways, Pakistan Steel Mills, and Pepco should be presented in the next Cabinet meeting.
The package, provided to Pakistan Railways, includes Rs 11.1 billion financial package, and Rs 10 billion overdraft facility, from the State Bank of Pakistan, which would be converted into long-term loan. In a briefing to the media after the Cabinet meeting, which was presided over by Prime Minister Gilani, the Minister for Information, Qamar Zaman Kaira, said that the Cabinet was given a detailed presentation on the current affairs of Pakistan Railways and its immediate needs.
He said that Rs 11.1 billion has been approved for rehabilitation of 145 locomotives, improving tracks, maintaining coaches and for maintaining strategic oil reserves. The meeting also gave ex post facto approval to re-adjustment/rescheduling of loans obtained by Pakistan Steel Mills. The meeting was informed that Pakistan Steels Mills' production had increased and losses had declined after the relief package was given to it in last June.
Kaira said that the meeting directed that a plan for restructuring of Pakistan Railways, Pakistan Steel Mills and Pepco should be submitted to the next Cabinet meeting for discussion and finalisation. The restructuring plan of Pakistan International Airlines (PIA), National Highway Authority (NHA), Trading Corporation of Pakistan (TCP), Utility Stores Corporation (USC), and Passco would be submitted in the subsequent meeting, he added.
About reformed general sales tax (RGST), he said that legislation is required to eradicate corruption and reform the tax system. He supported the tax, saying that reforms are in the interest of the country. Regarding blasphemy law, he said that no Muslim can think of compromising on the issue, and even minorities have great respect for the Holy Prophet (Peace be Upon Him), but the issue was being given political twist.
About the current political situation, he said that the government wanted to take along all political parties, and reservations of the Muttahida Quami Movement (MQM) would be addressed. About Fazlur Rehman he said that although Fazlur Rehman has his own viewpoint on different political issues, his decisions would not be against democracy. "We have the majority in the National Assembly and as long as this majority is intact, we have the right to remain in power," he added.
Kaira said that investigation into the death of Benazir Bhutto "is in the final stage", and the responsible would be brought to justice. The meeting reviewed the status of implementation of Cabinet decisions pertaining to food and agriculture, foreign affairs, health, housing and works and industries and production.
All ministers were directed to hold monthly meetings to monitor progress of decisions and MoUs signed with different countries in order to identify the impediments, if any. The Prime Minister directed that the process of consultation among various ministries or with foreign countries be expedited to ensure early implementation.
Kaira said that the Cabinet ratified Saarc Agreement on Trade in Services. It also accorded approval to the signing of inter-government framework Agreement with China regarding provision of concessional loan for PAKSAT- IR Ground Control Segment Project. The Cabinet approved the ratification of additional protocol of the Agreement on simplification of visa procedure for businessmen on ECO member states.
The Cabinet also approved, in principle, to negotiate and sign loan offered by the government of Japan through agreement on Flood Disaster Emergency Import Support Loan. The Cabinet approved the proposed amendments in the original Ordinance of National University of Modern Languages Islamabad.
The meeting accorded approval for signing of two agreements on Economics and Technical Co-operation for Grant Assistance of 200 million dollars. The Cabinet approved the instrument of ratification of agreement between the governments of Pakistan and Indonesia and Pakistan and Sri Lanka and Tunisia, on abolition of visa for diplomatic and official passport holders.