ISLAMABAD Dec 6: The Karachi Circular Railways will start operating from January, 2005. A report presented to Prime Minister Shaukat Aziz on Monday said it had been decided that the KCR would be operated by an independent corporation
, jointly owned by the Pakistan Railways, Sindh government and the Karachi city government.
A task force was asked to suggest ways to make it a joint venture after Pakistan Railways refused to run the KCR from its own resources. The corporation would soon be negotiating with a private bank to finance the project.
The prime minister directed the authorities concerned to take immediate preparatory measures, including rehabilitation of coaches and repair and rehabilitation of the track on priority basis.
He said it was essential to provide quick and quality mode of transport to commuters in the city. Meanwhile, SHV Holding, a Dutch multinational company already engaged in LPG and gas sector, has decided to diversify its investment and has launched a massive project of wholesale distribution of farm commodities and items of daily use in Pakistan.
Company's President Plet C. Klaver during a meeting with the prime minister said farmers would benefit from the project by getting better prices for their products. Mr Aziz told Mr Klaver that Pakistan was providing a level playing field to both local and foreign investors.
Mr Aziz highlighted Pakistan's investment potential and said the demand for durable goods was increasing rapidly in the wake of a rise in GDP growth rate. Mr Klaver said the company would help a great deal in the supply of quality fruits, vegetables and dairy products in domestic and international market.
The premier advised the SHV Holding to explore the possibility of investing in oil and gas sectors and said it had a great potential. In a meeting with Unicef Executive Director Ms Carol Bellany, who called on him, the premier said Pakistan was focusing on preventive measures and providing basic health facilities to people.
