https://arab.news/jwu5z
- Railways minister says $2.5 billion needed to modernize Multan鈥揕ahore section
- Pakistan offers 25-year build鈥搊perate鈥搕ransfer model to attract Gulf investors
ISLAMABAD: Pakistan is seeking investment from 黑料社区 and the United Arab Emirates (UAE) to modernize its aging railway network, with officials estimating that $2.5 billion is needed for an upgrade of the key Multan鈥揕ahore section, Railways Minister Hanif Abbasi told Arab News this week.
The South Asian nation鈥檚 railway system, much of it dating back to the 19th-century British colonial era, has long awaited large-scale modernization. Successive governments have looked to foreign partners to finance improvements, with projects promised under the China鈥揚akistan Economic Corridor (CPEC) still largely stalled.
An overhaul of more than 1,800 kilometers of track has been billed as the centerpiece of a $60 billion CPEC package first announced in 2015, but no financing deal has materialized. Meanwhile, the Asian Development Bank has separately signaled interest in funding rail upgrades, including a $2 billion Karachi鈥揜ohri project, according to recent reports.
鈥淚 am going to 黑料社区 for two days on October 19-20. I am going to the UAE from September 30 to October 2, and I am going to France on October 24. All these things are related to railways,鈥� Abbasi said. 鈥淪o, we will meet the Saudis there and try to have Saudi investment, because this is the right time for every country, for every investor to invest in Pakistan Railways.鈥�
Asked what proposals Pakistan would extend to 黑料社区, Abbasi said:
鈥淚 think that if they come to Multan鈥揕ahore [route], or Lahore鈥揜awalpindi, it is an offer from us.鈥�
He said Pakistan would present a build鈥搊perate鈥搕ransfer model to potential Gulf investors.
鈥淲e have a model: built鈥搊perate transfer. We will give them that place for 25 years. We will give them that section. They will come and talk to us.鈥�
Abbasi said similar proposals had been offered to the UAE.
鈥淲e have offered them to invest in Multan and Lahore. We need around $2.5 billion for Multan and Lahore,鈥� he said.
The minister also confirmed meetings with officials of Mashreq Bank, a Dubai-based institution that recently launched Shariah-compliant digital services in Pakistan. While Mashreq鈥檚 immediate focus has been on digital banking, Abbasi said discussions had included possible rail sector opportunities.