KARACHI, Dec 22: Foreign investors in private sector have shown their interest in different units of Pakistan Railways as well as operation of trains.

PR Chairman Khurshid Ali Khan, talking to a group of newsmen at the office of the Divisional Superintendent, Karachi, on Monday, said that the foreign firms had approached the railway department and shown their interest offering investment on build, operate and transfer (BOT) basis.

“The negotiations are on very initial stage and we are considering to work jointly with them on different units of the railway. We are considering to give them a unit of their choice except for the infrastructure,” Mr Khan said.

Without identifying the interested firms, he said that more than one investors were interested. “We have not invited them. Rather, they have approached us on their own,” he maintained.

He said that public-private participation had become imperative in almost every sector and the PR was also considering inviting private companies in the department.

“We are willing to allow private investors to run their own trains and build their own infrastructure, but on BOT basis. We will not give away our own infrastructure to any of the private parties, however, they can use it,” he added.

About freight trains, he said: “We introduced unbounded freight trains with 50 per cent reduction in freight charges.” Earlier, he said, the PR had been carrying out the service of the goods transportation to and from dry ports. The PR had been carrying goods for Afghanistan transit trade from Karachi port to Chaman and Peshawar. “We are charging inland fares for the purpose and have been suffering an annual loss of Rs180 million for not charging additional fares. However, we have obtained more business through this policy and reduced the loss to Rs140 million by carrying up to 2,500 wagons,” he disclosed.

He said that PR officials were in touch with the interested investors to convince them that they should avail the PR services for goods transportation. “We are fetching business from open market and improving our capacity of freight trains,” the PR chairman said.