Domestic financing for improving railway’s network urged

KARACHI: Commenting on reports about the exclusion of the ML-1 railway project from the China–Pakistan Economic Corridor (CPEC) framework, Pasban Democratic Party (PDP) chairman Altaf Shakoor said on Sunday that it should not be viewed as a setback.

“Instead, it presents Pakistan with an opportunity to pursue a more sustainable and visionary approach to railway development.

Pakistan should modernize its existing railway network through domestic financing and strong collaboration with the private sector rather than relying on additional foreign loans.“

He said the country already had a railway corridor connecting Karachi with Peshawar.

The task ahead was to upgrade this backbone by converting remaining single-track sections into double track, constructing proper fencing to improve safety, and installing state-of-the-art digital signaling, communication, and train-control systems.

These improvements would substantially increase the speed, safety, reliability, and capacity of Pakistan Railways, he said.

He said the Pakistan Railways had the technical experience and operational capacity to undertake these improvements. With the support of the private sector and innovative local financing mechanisms, the modernization of the existing network could become a national development initiative driven by Pakistani resources and expertise.

He said if Pakistan must obtain new foreign loans, they should be invested in projects that transform the country’s future rather than merely upgrading an existing conventional railway system.

“The nation should seek international financing for its first high-speed bullet train, a project that would represent a major technological leap, strengthen national connectivity, attract investment, and demonstrate Pakistan’s commitment to modern transport infrastructure,” said the PDP chief.

Altaf Shakoor said this was the time to distinguish between modernization and transformation.

The modernization of the existing railway network should be achieved through local resources, while foreign financing should be reserved for ambitious projects that define the next generation of Pakistan’s transportation system.

He urged Prime Minister Shehbaz Sharif, Railway Minister Hanif Abbasi, policymakers, the business community, and the public to support a financing strategy that strengthened economic sovereignty, encouraged private-sector participation, and built a railway system worthy of Pakistan’s future aspirations.

Copyright Business Recorder, 2026