July 02, 2017
News
Pakistan Railways revenue increases to Rs 20b: Saad
ISLAMABAD: Pakistan Railways has experienced surge of more than Rs 20 billion in revenue and its deficit slashed by Rs 10 billion during the last four years along with improved services for the people on Saturday.
It was revealed in a tweet message by Minister for Railways Khawaja Saad Rafique which states that Revenue of Pakistan Railways has hiked by Rs 20 billion and deficit has been lessened by Rs 10 billion during the last four years.
During the last four years, the railway minister said that Pakistan Railways achieved exceeding its target set for each year and it would set precedent by achieving more than benchmark of Rs 53 billion earmarked for the current fiscal year.
Meanwhile, the sources within Ministry of Railways said that “Pakistan Railways has prepared working paper about the targets set for next year (2017-18) along with comprehensive details of generating revenue through diverse measures to achieve it.”
The sources further said that “Rs 53 billion had been the revenue target set for fiscal year 2017-18 which would be 33 percent higher as compared to the preceding fiscal year.”
“The revenue target in the current budget is 94 percent higher as compared to the target set in 2013. Total revenue generation would be over Rs 53 billion in next year which would be 33 percent higher against than that of preceding year (2016-17),” the sources maintained.
“Pakistan Railways spearheaded by Saad will set the record of achieving highest ever revenue and its performance and services will further improve in the wake of effective reforms introduced in this sector,” the sources said.
Highlighting steps taken by the government to reduce deficit of the department, the sources said that “Passenger sector and freight sector earned billions of rupees due to the reforms inculcated by the present government in its tenure.”
“No bailout package was demanded from the government during the last four years and Pakistan Railways have sufficient fuel stock at present to operate the trains,” the sources said while attributing success story of Railway sector to the unrelenting efforts of Saad.
Courtesy www.dailytimes.com.pk