Swati awaits ML-I loan approval in two weeks – Pakistan


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LAHORE: Federal Minister of Railways Azam Khan Swati said China is expected to approve a loan of US $ 6.8 billion for the Main Line-I (ML-I) project within the next two weeks as part of the China-Pakistan Economic Corridor (CPEC).

“Keeping in mind the progress on this issue, I am sure that the loan will be approved by the Exim Bank of China within the next two weeks, which will allow us to move forward towards the execution of the project,” he said. Mr Swati said in an interview with senior journalists. here Saturday.

Asked about the lack of interest reported by the Chinese government due to the slow pace of work on the CPEC projects, the minister dispelled the impression and claimed that it was the PTI government that reduced the total cost of the project by 9, $ 2 billion to $ 6.8 billion. “This case has been on hold since 2014. Negotiations have been underway for three years. I am telling you clearly that they (the Chinese government) have agreed to finance and execute this project because there is no longer any obstacle, ”he said.

Mr Swati said the railways were facing a loss of Rs 2.5 billion a year solely due to the theft of electricity due to the non-installation of meters. “You will be surprised to learn that we are facing a huge loss in terms of electricity theft worth Rs 2.5 billion per year due to the unavailability of meters in several railway settlements, offices , etc. “, he added.

“Theft of electricity of 2.5 billion rupees in the PR in the absence of meters”

The minister said he reported this matter to the Prime Minister who ordered him to stop the theft by all means. He also arranged around Rs1 billion for the installation of 26,570 meters. After hard work to push the relevant departments again and again, the PR has so far only been able to install 1,870 meters.

“We still have to install the remaining 24,700 meters. It is a huge task in the face of massive resistance from a very powerful mafia ”, declared the Minister. “And now the Prime Minister has ordered the relevant authorities to complete the work of installing the meters within a week,”

Mr Swti said the lesson he learned during his seven months in office is that the only way to revive the railways is to outsource its rail operations (both freight and passenger), the dry port and other segments due to corruption and mismanagement in the department.

“There are thousands of workers in various public relations departments and almost half of them stay away from their jobs by giving 50 percent of their salary to their seniors. We decided to use technology to ensure their presence, ”he explained.

“We need to spend around $ 30-40 million to launch a system that will check attendance / attendance of all employees, including those in the field. This system is also in place in the army and in some other institutions, ”he said.

Mr Swati said a professional would soon join the post of CEO of Pakistan Railways Freight Transport Company (PRFTC) which would grow the freight industry from Rs 18.5 billion to Rs 30 billion in one year.

Speaking of other issues, including scrap metal, the minister said he had asked relevant authorities to auction all of the rail scrap on freight rates by August 31.

Posted in Dawn, August 1, 2021

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