Federal govt decides to take back all railway properties in Karachi.

KARACHI -- Federal Minister for Railways, Sheikh Rasheed, has said that the federal government decides for taking back important railway properties in Karachi in a bid to increase the income of Pakistan Railways, media reported on Sunday.

Sheikh Rasheed, while addressing a press conference in Karachi today, said that it has been decided to take back important properties of PR. He said the state-owned entity Pakistan Railways has 38-canal land and Prime Minister Imran Khan will take final decision for its utilisation. He said that 31 canals of land have been retrieved so far.

'We have reduced losses up to Rs4 billion and it is our target to shrink it to Rs6 billion this year. In a session today, we have decided to hand over PR land to the Sindh government as most of the land is not in our usage. We are going to transfer responsible officers from Lahore to Karachi.'

'KCR [Karachi Circular Railway] is a project of the Sindh government and we will assist the province if it makes some progress [for its restoration]. Karachi is the jugular vain of railway and a railway univeristy will be...