ISLAMABAD: The Asian Development Bank (ADB) has shown interest in mutual cooperation with Pakistan Railways to modernise its infrastructure. This was discussed during a meeting between ADB Central and West Asia Department Director General Werner E Liepach and Ministry of Railways Chairperson Parveen Agha. The ADB representative shared that despite recent developments, the railway sector needed to improve its infrastructure to provide affordable transport services and recover the market share lost to roads. The projects of Risalpur Locomotive factory upgrade; procurement of new locomotives and freight company were also discussed in the meeting. The development bank also showed interest in co-financing. This funding will be done through public-private partnership, Liepach added.
Published in The Express Tribune, February 20th, 2018.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ