ISLAMABAD: Pakistan and Russia have signed a memorandum of understanding (MoU) to enhance cooperation in the Railway sector.
A statement, released by Pakistan Railways (PR) here on Friday, said the MoU was signed on the sidelines of the 27th St Petersburg International Economic Forum (SPIEF) aiming at exploring the opportunities for implementing railway upgrade projects and other initiatives within this crucial sector.
It said the MoU was signed by Ambassador Muhammad Khalid Jamali from the Pakistan side and Deputy Transport Minister DS Zverev from the Russian side.
It further said the MoU also established a framework for potential future collaboration with relevant companies operating in that sector.
Furthermore, it seeks to enhance and streamline international cargo transport.
A senior official privy to the developments when contacted, told this correspondent that the Russian government was keen to engage with Pakistan in Railways’ upgradation projects, adding that in October-November a meeting of the Inter-Governmental Commission is to be held in Russia where further modalities will be discussed.
When the official was asked about the possible expansion of the Trans-Afghan rail link to Russia, he said the Russian rail network was the fifth largest rail network in the world and if the Trans-Afghan rail link was successfully implemented it would surely connect Pakistan to Russia through Kazakhstan. The project will support both passenger and freight services, tourism and would contribute in regional trade and economic growth.
Another official said the government of Pakistan was seriously exploring all available options to expand regional connectivity for which the railways were the best option. He further said that recently Pakistan and Kazakhstan had agreed to expand the Trans-Afghan rail link to enhance rail connectivity to boost transit, bilateral, and regional trade.
The present government of Afghanistan is seriously working with Pakistan on the Trans-Afghan Railways project, in case the project faces some problems in Afghanistan, Pakistan will seriously consider utilisation of an alternative route Pakistan-Iran-Kazak route for regional connectivity, an official responding to a question said. He further said Pakistan and Iran were already connected through the Railway Network.
In 2023, Pakistan, Uzbekistan, and Afghanistan signed a joint protocol of connecting the Uzbek rail network with Pakistan through Termiz in Uzbekistan, Mazar-i-Sharif and Logar in Afghanistan, and culminate in Pakistan via the Kharlachi border crossing in the Kurram District and reach district Kohat where already Rail link exists.
He further said that in the fiscal year 2023-24 PR is all set to meet the revenue generation target of Rs85 billion and so far it has generated almost Rs75 billion. He said the government of Pakistan had decided to not privatise Railways and was exploring all options to modernise the railways as it was the most reliable and cheapest way of freight, passengers and trade option.
ISLAMABAD: Pakistan and Russia have signed a memorandum of understanding (MoU) to enhance cooperation in the Railway sector.
A statement, released by Pakistan Railways (PR) here on Friday, said the MoU was signed on the sidelines of the 27th St Petersburg International Economic Forum (SPIEF) aiming at exploring the opportunities for implementing railway upgrade projects and other initiatives within this crucial sector.
It said the MoU was signed by Ambassador Muhammad Khalid Jamali from the Pakistan side and Deputy Transport Minister DS Zverev from the Russian side.
It further said the MoU also established a framework for potential future collaboration with relevant companies operating in that sector.
Furthermore, it seeks to enhance and streamline international cargo transport.
A senior official privy to the developments when contacted, told this correspondent that the Russian government was keen to engage with Pakistan in Railways’ upgradation projects, adding that in October-November a meeting of the Inter-Governmental Commission is to be held in Russia where further modalities will be discussed.
When the official was asked about the possible expansion of the Trans-Afghan rail link to Russia, he said the Russian rail network was the fifth largest rail network in the world and if the Trans-Afghan rail link was successfully implemented it would surely connect Pakistan to Russia through Kazakhstan. The project will support both passenger and freight services, tourism and would contribute in regional trade and economic growth.
Another official said the government of Pakistan was seriously exploring all available options to expand regional connectivity for which the railways were the best option. He further said that recently Pakistan and Kazakhstan had agreed to expand the Trans-Afghan rail link to enhance rail connectivity to boost transit, bilateral, and regional trade.
The present government of Afghanistan is seriously working with Pakistan on the Trans-Afghan Railways project, in case the project faces some problems in Afghanistan, Pakistan will seriously consider utilisation of an alternative route Pakistan-Iran-Kazak route for regional connectivity, an official responding to a question said. He further said Pakistan and Iran were already connected through the Railway Network.
In 2023, Pakistan, Uzbekistan, and Afghanistan signed a joint protocol of connecting the Uzbek rail network with Pakistan through Termiz in Uzbekistan, Mazar-i-Sharif and Logar in Afghanistan, and culminate in Pakistan via the Kharlachi border crossing in the Kurram District and reach district Kohat where already Rail link exists.
He further said that in the fiscal year 2023-24 PR is all set to meet the revenue generation target of Rs85 billion and so far it has generated almost Rs75 billion. He said the government of Pakistan had decided to not privatise Railways and was exploring all options to modernise the railways as it was the most reliable and cheapest way of freight, passengers and trade option.
American Dollar Exchange Rate