ISLAMABAD: The International Monetary Fund (IMF) and Pakistan have failed to strike a staff-level agreement under a $6 billion Extended Fund Facility, or bailout package, Pakistani media reported on Sunday.
In 2019, Pakistan reached an accord with the International Monetary Fund for a three-year, $6 billion bailout package aimed at shoring up fragile public finances and strengthening a slowing economy.
Pakistani and IMF officials are currently engaged in a fresh round of talks from October 4 to 15 for the release of a $1 billion tranche of the loan.
“The talks failed despite Pakistan having implemented a prior condition of increasing electricity and petroleum products prices,” the Express Tribune newspaper reported. “However, both sides have shown resolve to remain engaged.”
“The IMF team remains engaged with our Pakistani counterparts on moving forward our work agenda and we are looking forward to our continued discussions with the Pakistani authorities on the set of policies and reforms that could form the basis for the completion of the 6th review under the EFF,” Teresa Dabán Sanchez, the outgoing resident representative of the IMF, told The Express Tribune.
This is the second time Pakistan and the IMF could not find “basis for the completion of the 6th review.,” The first attempt was made in June.
Pakistan fails to strike agreement with IMF for release of $1 billion loan tranche
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Pakistan fails to strike agreement with IMF for release of $1 billion loan tranche
- Pakistan reached an accord with IMF for three-year, $6 billion bailout package in 2019
- Pakistani and IMF officials are currently engaged in fresh around of staff-level talks in Washington
Pakistan Railways to complete first phase of largest digitization drive by June 2026
- Project introduces GPS tracking, fiber network, command centers to cut delays, accidents
- Railways say first phase funded from own revenue amid broader IMF-backed reform push
ISLAMABAD: Pakistan Railways will complete the first phase of its largest-ever digitization program by June 2026, the country’s railways minister said this week, as the state-run operator moves to modernize operations, improve safety and reduce chronic delays across its aging rail network.
The initiative, known as the Railway Advanced Infrastructure Network (RAIN), is a nationwide digital overhaul designed to introduce real-time monitoring, centralized operational control and data-driven decision-making across Pakistan Railways, which has long struggled with safety lapses, service disruptions and financial losses.
The project comes as Pakistan faces sustained pressure to reform loss-making state-owned enterprises under an International Monetary Fund-backed stabilization program, with transport infrastructure seen as critical to improving economic efficiency and public services in a country of more than 240 million people.
Pakistan Railways, once the backbone of long-distance transport in the country, has seen its share of passenger and freight traffic decline over decades due to underinvestment, competition from road transport and repeated safety incidents. Officials say the RAIN project is intended to reverse that trend by modernizing core infrastructure and restoring public confidence in rail travel.
“The RAIN Project will significantly reduce train delays and accidents, enhance passenger services, and improve overall operational efficiency,” Railways Minister Muhammad Hanif Abbasi said, according to an official statement issued after he chaired a review meeting on the project.
According to the railways ministry, Phase-I of the RAIN program will be financed entirely through Pakistan Railways’ own revenue, part of efforts to improve financial discipline and reduce reliance on government subsidies.
The first phase includes the installation of Global Positioning System (GPS) tracking on all trains and locomotives, allowing railway authorities to monitor train movements in real time and respond more quickly to disruptions or emergencies.
It also includes the establishment of command and control centers at Pakistan Railways’ headquarters in Lahore and at all divisional offices, enabling centralized oversight of operations and faster decision-making during accidents or delays.
Another major component is the fiber-optic networking of around 1,700 kilometers of the main ML-1 railway line, Pakistan’s busiest north-south corridor linking major cities and ports, to support high-speed data transmission and digital monitoring systems.
The project further includes the rollout of “safe and smart” railway stations at major hubs, modelled on upgrades already carried out at Rawalpindi station, alongside the provision of high-speed Internet services at selected stations to improve passenger experience and operational coordination.
The railways ministry said additional details on subsequent phases of the digitization program would be announced in due course.
