Gul Train Project moves forward

Pre-feasibility study of the project to be completed by the time of Zardari’s visit to Turkey in April.

KARACHI:

The proposed Gul Train Project between Pakistan and Turkey has moved a step forward after a Turkish delegation, led by the head of Economic Policy Research Foundation of Turkey Dr Guven Sak, met with President Asif Ali Zardari on Friday.

During the meeting held at Bilawal House, Sak said that the pre-feasibility study of the project would be completed by the time of Zardari’s visit to Turkey in April.

After holding meetings with officials of the Board of Investment and Pakistan Railways, Sak labelled the project as achievable.

Zardari explained that equity for the project may be raised through stock exchanges and international companies engaged in infrastructure development business. He added that Japanese entrepreneurs had earlier expressed interest in the project.

He said that the project would boost trade between Europe, Middle East and Pakistan and could subsequently be extended to the countries of Central Asia.

President’s spokesperson Farhatullah Babar said that the president suggested that Turkish stock exchanges and the Turkish chamber of commerce should negotiate with stock exchanges and companies in Pakistan for the establishment of a holding company and subsequently the setting up of joint ventures to take over commercial management of the cargo train.

Published in The Express Tribune, March 19^th, 2011.