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What is Pakistan Railways mean?
Pakistan Railways (reporting mark PR) (Urdu: پاکستان ریلویز) is the national, state-owned railway company of Pakistan. Founded in 1861 and headquartered in Lahore, it owns 7,791 kilometres (4,841 miles) of track across Pakistan, stretching from Torkham to Karachi, offering both freight and passenger services.
In 2014, the Ministry of Railways launched Pakistan Railways Vision 2026, which seeks to increase PR's share in Pakistan's transportation sector from 4% to 20%, using the ₨886.68 billion (US$5.5 billion) China–Pakistan Economic Corridor rail upgrade. The plan includes building new locomotives, development and improvement of current rail infrastructure, an increase in average train speed, improved on-time performance and expansion of passenger service. The first phase of the project was completed in 2017, and the second phase is scheduled for completion by 2021. Pakistan Railways is an active member of the International Union of Railways.
In the 2018/19 financial year, Pakistan Railways served 70 million passengers. Pakistan Railway offered international tender on 12 September 2020 for new vision of Pakistan Railway's Main Line -1 (ML1). Meanwhile, In recent development the construction of ML-1 project in three phases had been approved by the Executive Committee of National Economic Council (Ecnec) held in August 2020 last year. The actual cost of the project was initially $9bn, including equity amount of the government of Pakistan. But later, it was reduced gradually to $6.8bn.
referencePosted on 04 Dec 2024, this text provides information on Miscellaneous in Governmental related to Governmental. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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