Response: ‘Daewoo-govt bus agreement inked in Mar’

Company says they inked an agreement for ‘Shaheed Benazir Bhutto Intercity Bus Project’ with Sindh govt in March 2015

KARACHI:

Based on The Express Tribune report ‘Budget 2015-16: Five years. One Project. No work to show’ published on June 12, 2015, Daewoo Pakistan Express Bus Service responded that they inked an agreement for the project ‘Shaheed Benazir Bhutto Intercity Bus Project’ with the Sindh government in March 2015 as part of a public-private initiative.

“Following the concession agreement, the project requires a financial close which is still in process and is targeted for September or earlier,” said the press release. It added that the Sindh government and Daewoo mutually decided to carry out a symbolic project launch ceremony on April 14 to mark the historic agreement. “Daewoo Express has allocated some buses from its existing fleet to run within the province of Sindh so that some portion of the planned full service operation can start prior to financial close,” it said, adding that there are no operating subsidies being provided by government for this project.

Published in The Express Tribune, June 16^th, 2015.