ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives, Ahsan Iqbal, emphasized the necessity of a comprehensive financing strategy for the ML-1 railway project during a committee meeting focused on exploring funding options for the Rohri-Multan section. The government identifies the modernization of the ML-1 railway line as a priority.

According to Press Information Department, the committee reviewed multiple financing avenues, including the Public Sector Development Programme, foreign financing, public-private partnerships, and options from local commercial banks and domestic capital markets. The Frontier Works Organization proposed developing the Rohri-Multan section through private investment, with an estimated cost surpassing Rs450 billion.

The meeting addressed the deteriorated state of the railway line, noting 399 derailments and 158 accidents over the past decade. Iqbal stressed the importance of a modern railway system for economic activity and directed preparations for the Karachi-Rohri section financed by the Asian Development Bank.

For the Rohri-Multan segment, Iqbal mandated a third-party feasibility study to evaluate the project’s viability. He instructed the Ministry of Railways to assess future locomotive and rolling stock needs within an integrated modern railway plan. Iqbal pointed out the impact of budget cuts on critical projects and the importance of exploring alternative financing.

The meeting included senior officials from various ministries and organizations who discussed the financing options, development plans, and future requirements of the railway sector.