Pakistan Railways to spend $3 billion

The Pakistan Railways is on the track of revival as the government has approved various projects at a whopping cost of Rs287 billion ($3 billion), a Pakistani daily said. A major chunk – Rs246 billion – approved by the National Economic Council will be spent on reviving the Karachi Circular Railway (KCR), the Dawn reported. The KCR’s revival was planned in 2006, but lack of funds delayed its implementation. Now that Japan has agreed to lend money, its completion will help unclog the port city’s roads, the daily said. The remaining fund will be used for purchasing locomotives, bogies and high-speed power vans and for repairing the existing 150 diesel engines. From gulftoday