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Funds approved for Pakistan Railways
30 December 2010: The Pakistan Cabinet has approved Rs 21.1 billion (approx Rs 94,775 Crore) for Pakistan Railways to enable it to run its affairs. The package, provided to Pakistan Railways, includes Rs 11.1 billion (approx Rs 49,858 crore) financial package, and Rs 10 billion (approx Rs 44,917 Crore) overdraft facility, from the State Bank of Pakistan, which will be converted into long-term loan.
The Cabinet also approved, in principle, to negotiate and sign loan offered by the government of Japan through agreement on Flood Disaster Emergency Import Support Loan.
Source: Business recorder