The railway will operate as a commercial enterprise within the department structure, says the Finance Minister. Delivering the budget plans for 2005 Minister of Fianance, Sarath Amunugama said the railway authority law would be repealed but that the railway will be given the "freedom to operate as a commercial enterprise within the department structure."
Public service obligation agreements with the management will come in to provide more quantifiable recurrent expenditure.
Railway revenues are to be increased through an airport express link, transportation of fuel and containers and by introducing fast mono-rail services.
A subsidiary unit would be formed, said the Minister, to manage railway land on commercial lines.
The railway will be awarded adequate funds to strengthen its dilapidated rail tracks and for continues good maintenance.
The railway was promised Rs 4.2 bn in capital expenditure for 2005 compared to the Rs 1.
5 bn this year and another Rs 4.9 bn in recurren