ISLAMABAD - Ministry of Finance Friday assured the Ministry of Railways that it would release Rs 11.5 billion bailout package for the Pakistan Railways as approved by the federal cabinet in December last year. Federal Minister for Finance Abdul Hafeez Shaikh on Friday assured Railway minister Haji Ghulam Ahmed Bilour that approved money would be released by the end of next month. According to the details, Railways Minister in a meeting pleaded his case for undue delay in release of Rs 11.5 billion allocated by federal cabinet for maintenance and rehabilitation of railways. During the course of meeting Hafeez Sheikh asked the railway minister to move a PC-1 of the projects the ministry was planning to execute from allocated funds, to the finance ministry for approval. Bilour said had the finance ministry released funds timely, the railways would have repaired around 80 locomotives. Briefing the finance minister, Bilour said Railways would spend Rs 6.1 billion on maintenance of 145 locomotives, Rs 2 billion each on rehabilitation of tracks and coaches and Rs one billion would be reserved for future use.