Political stability will lead to better economic results: Saad Rafique

KARACHI: Minister for Railway Khawaja Saad Rafique on Saturday said political stability in the country will lead to better economic results and creating hurdles will impede progress.

The minister was speaking to the media at the metropolis' City Station.

Rafique said Karachi Circular Railway (KCR) was not a victim of political differences with the Pakistan Peoples Party. He added that earlier provincial governments were not interested in the project but the incumbent chief minister, Syed Murad Ali Shah, has shown interest.

He further said that he had met Shah on Friday and the project is heading in the right direction for the first time.

Referring to Main Line 1 (ML1), the track running from Karachi to Peshawar, the minister said he will tread carefully on the upgradation of track.

"My first priority is to tread carefully on ML1," said Rafique.

He added that the cost should suit Pakistan Railways (PR) and the conditions of the loan should also suit the organisation.

Rafique further said that the project will take time to complete but will serve the country for the next century.

Speaking of PR's revenue, the minister said that the profit for the year was Rs40 billion, and the target for next year is Rs50bn. 

Earlier in May, Pakistan signed an agreement with China to upgrade Karachi-Peshawar railway track.

The framework agreement of upgradation of Karachi-Peshawar track was signed at a ceremony at the Chinese Ministry of Transport office.

During the signing ceremony, the Chinese minister for transport had also assured of expediting work on Karachi Circular Railway, and other projects in Quetta and Peshawar.