RAILWAYS MINISTER RULES OUT RAILWAYS PRIVATIZATION THOUGH SEEKS PRIVATE CAPITAL FOR ITS TRANSFORMATION AT PHD CHAMBER

RAILWAYS MINISTER RULES OUT RAILWAYS PRIVATIZATION THOUGH SEEKS PRIVATE CAPITAL FOR ITS TRANSFORMATION AT PHD CHAMBER

RAILWAYS MINISTER RULES OUT RAILWAYS PRIVATIZATION THOUGH SEEKS PRIVATE CAPITAL FOR ITS TRANSFORMATION AT PHD CHAMBER

 

No.PR-220
March 27, 2015
New Delhi
 

RAILWAYS MINISTER RULES OUT RAILWAYS PRIVATIZATION THOUGH SEEKS PRIVATE CAPITAL FOR ITS TRANSFORMATION AT PHD CHAMBER
 

RAILWAY BOARD CHAIRMAN SAYS THAT RS.4 CRORE COLLECTED AS FINE AGAINST SPOILING RAILWAY STATIONS
 

Union Minister for Railways, Dr. Suresh Prabhu on Friday categorically ruled out privatization of railways though earnestly sought private capital, its managerial xpertise and efficiency to transform the saturated railways.
 

Inaugurating the Global Rail Convention-2015 : Indian Railways on the Fast Track under aegis of PHD Chamber of Commerce and Industry here today, Dr. Prabhu also said that railways would approach the World Bank for financial assistance for its uplift, modernization, capacity expansion including the decongestion of Indian railways.
 

The Minister said “the railways have setup an internal committee of its own human resources to suggest wage and means to doubling its capacity to an extent of 1200 ml tones and activated all its zonal heads to meet the targets of the railways budget for 2015-16 who have already committed to perform the assigned job”.
 

“Besides, borrowing from LIC to upgrade and modernize the railways, it would soon approach the World Bank for fiscal assistance to accomplish the job.  We would also organize to hire private capital and its efficient management skills to catapult railways in a PPP mode but will not let railways to be privatized because it will remain the property of the Indians”, said the Minister.
 

Speaking on the occasion, Minister of State for Railways, Mr. Manoj Sinha said that railways have developed a clean course for short, medium and long term investments and accordingly it will execute the projects defined and announced in the first railways budget of the NDA government.
 

The Chairman Railway Board, Mr. A K Mittal in his observations informed that railways have collected a fine of Rs.4 crores in the last six months against spoiling and littering railways stations across the country and would succeed in fitting 17500 bio toilets in the railways network of Rajdhani & Shatabadi in the year 2015-16 since as many toilets have already been added to such railways system in the last six months.
 

According to him, the conventional projects of railways would be financed through budgetary support whereas necessary investments would be garnered through various institutional mechanisms to fund the newly announced projects in a time bound manner identified in the latest railways budget.
 

Coal Secretary Mr. Anil Swarup who also participated in the Convention said that the government could auction 67 coal blocks until now with revenue of Rs.4 lakh crores, of which not even a single penny went to central exchequer.  He ruled out possibilities of Union Coal Ministry for setting up power plants.
 

President PHD Chamber Mr. Alok B. Shriram presided over the Convention in the presence of its Sr. Vice President, Vice President and the Railway Committee Chairman Mr. Mahesh Gupta, Mr. Gopal Jiwarajka and Mr. Sandeep Aggarwal.
 

ENDS

Koteshwar Prasad Dobhal
Consultant (PR)