Stories

Russia, UAE pledge $1bn investment in railway

Pakistan is set to receive an investment of up to $1 billion in its struggling railway sector, with both Russia and the United Arab Emirates (UAE) expressing interest in modernising the infrastructure.

Sources revealed that ongoing negotiations between Pakistan and the two nations have been focused on fostering collaboration within the railway sector, a crucial move given the neglect by previous administrations that has left the sector in dire straits for decades.

Once a lucrative enterprise in goods transport, Pakistan’s railway sector faced setbacks as the tanker mafia grabbed and monopolized the entire business.