IDB to finance Railways for fleet expansion plan



Islamic Development Bank (IDB) will finance the locomotives fleet expansion plan of Ministry of Railways. According to a press release issued by the Ministry, 300 locomotives will be inducted through the finance of IDB in span of 7 years. These locomotives will be purchased in Complete Knockdown (CKD) units and later on will be assembled in Pakistan Locomotive Factory, Risalpur, it said. Turkey can also be taken as an example that got IDB loan and increased its railway locomotives.—APP