THE Industrial Development Corporation (IDC) says Zambia Railways needs approximately $1.75 billion for rehabilitation. And IDC Chief Executive Officer Cornwell Muleya has noted that funds allocated to Zambia Railways in the 2025 national budget have not yet been disbursed, thereby slowing down project implementation. Meanwhile, Muleya says IDC is focusing on rehabilitating the existing rail line before embarking on the construction of a new rail system, which may take approximately seven years to complete. Appearing before the Public Accounts Committee (PAC) on the consideration of Head 21: Loans and Investments under the Ministry of Finance and National Planning, Muleya said the level of funding was not sufficient to address the deep-rooted liquidity and governance challenges facing state-owned enterprises. “On loans...