ISLAMABAD - Finding no other option to save seemingly fast sinking ship of Pakistan Railways (PR), the incumbent government has now decided to approve more than Rs10 billion funds to overcome the financial troubles of the state-owned entity. At the same time ministrys senior officials, desiring not to be named, argued that the organisation that has turned into a 'white elephant declares itself on the verge of financial collapse at the end of every month. And the government just for face-saving releases some money to run the organisation for time being, they said, terming the recent funds approval a 'peanut in face of the overall crisis. In its meeting on Friday, the Cabinet Committee on Restructuring (CCoR) decided that PR would be provided Rs6.1 billion through a banking consortium for rehabilitation of locomotives while Rs4 billion would be given through re-prioritisation of Public Sector Development Programme (PSDP) of FY 2011-12 for improvement of tracks and rolling stock. Similarly, Rs15 billion have already been allocated for PR in PSDP, release of which shall be fast tracked; and line of credit from Pakistan State Oil (PSO) to PR has been increased to Rs2 billion to ensure smooth supply of oil to the Railways. The CCoR advised that restructuring of PR should be fast tracked to ensure implementation in the shortest period of time. It also directed PR officials to prepare PC1 to get funds immediately and to end the problem of delay in the trains schedule before Eidul Fitar. Meanwhile, Railways officials said that PC1 would be prepared by Monday while improvement would also be witnessed in Pakistan Railways within next six months. The CCoR further directed Ministry of Railways that the discontinued services of freight and passenger should be fully restored. The committee said it is expected that due to addition of locomotives, improvement of tracks and rolling stock and enhanced credit line from PSO, PR will again become a viable entity and provide reliable service to the people of Pakistan. All members of CCoR showed satisfaction in the comprehensive plan to restructure PR. The committee also decided to further strengthen the Board of PR, which shall be notified within one month. Board shall have representation from all four provinces and will also include professionals and experts of Railways and a strong mix from private sector. The executive committee of PR is also being strengthened to further improve management. Sources in the Ministry of Railways shared that Pakistan Railways first time in its history has decided to start a courier services cheaper than other private courier services. Pakistan Railways advisory and consultancy services would take up this project and in first phase this service would be provided from Lahore to Rawalpindi and later on it would be extended from Lahore to Karachi. The CCoR meeting was attended by Railways Minister Ghulam Ahmed Bilour, Minister for Law, Justice and Parliamentary Affairs Maula Bakhsh Chandio, Minister for Privatisation Ghous Bux Khan Mahar, Planning Commission Deputy Chairman Dr Nadeem ul Haque, Finance Secretary, Secretary M/o Railways, DG (ERU) and officials of M/o Railways.