Ayesha Saba

China and Pakistan have agreed to enhance their economic and business relationships through joint ventures. The Pakistan Railways and two Chinese tech companies – NORINCO International Cooperation and Easyway – have signed an MoU to launch an app named “Railway Automated Booking & Travel Assistance (RABTA)” to modernise the department operations, reports WealthPK.

Speaking on the occasion, Railways Minister Khawaja Saad Rafique said the RABTA app was one top solution for all travel needs where the passengers could reserve hotel rooms and cabs and plan their food. The minister said the agreement with the Chinese companies was totally based on the revenue-sharing formula. Furthermore, the complaints of passengers would be resolved through the app and they could plan their travel with it.

Talking to WealthPK, research fellow at the Centre for Business and Economic Research Ijaz Ali said, “Any joint venture with a partner from another country can be benefitted in terms of achievement of strategic goals, e.g., lower costs, entering the international market, enhancing competitiveness, or becoming familiar with the unique international environment.”

“Pakistan Railways is one of the most discussed state-owned enterprises (SOEs) in the country because of its unsatisfactory performance and continues to be a burden on the country’s economy. One of the major reasons for the department’s decline is the lack of investment. The infrastructure is outdated, needing significant investment for modernisation and upgradation. However, due to financial constraints, the government has not been able to provide the necessary funds for this purpose. It is imperative that we refresh our framework for national development.”

“Digitisation of the railway sector requires significant investment in technology, infrastructure, and skilled human resources. It also involves the need to address improving technology infrastructure and spreading digital literacy so that people are aware of how to use the technology to access the available services. Therefore, a comprehensive strategy and roadmap is the need of the hour to ensure successful implementation of digitisation in the railway sector,” Ajaz said.

“To attract more foreign investment in the technology sector, the government needs to ensure stability and consistency in policy. By doing so, our nation can enhance productivity and competitiveness, leading to more opportunities for joint ventures. We hope for better communication between the two countries and that more enterprises would come to Pakistan in future to expand bilateral business relations,” Ijaz added.

Credit: Independent News Pakistan-WealthPk