Pakistan Railway to Get Over Rs. 33 Billion in Budget FY22-23

The government has proposed Rs. 33.1 billion budget for Pakistan Railways for the next fiscal year. The budget will attempt to finance 33 schemes, of which, 32 are ongoing schemes, whereas there is only one new scheme.

The official document revealed that from the total budget of Rs. 0.2 billion will be funded via foreign aid, whereas the remaining amount will be provided by the Government of Pakistan.

The total budget allotted for the ongoing schemes is Rs. 28.1 billion, whereas Rs. 5 billion has been proposed for the single new scheme.

The new scheme announced in the budget is the up-gradation of Pakistan Railways’ existing Main Line-1 (ML1) and the establishment of a Dry port near Havelian. The scheme has been allotted Rs. 5 billion for the next fiscal year from which Rs. 1 billion will be provided by foreign aid and Rs. 4 billion will be provided by the government. It is to be noted that the scheme is part of the China Pakistan Economic Corridor (CPEC) and carries great importance for the project.