LAHORE: The Pakistan Railways (PR) has announced earning of record revenue of Rs88bn for the fiscal year 2023-24, ending on June 30, with 40pc more income compared to the last fiscal year.
Last year’s total revenue was reported to be Rs63bn, Dawn has learnt.
“The increase in revenue is mainly due to improvement in services related to passengers and freight. There is no impact concerning rationalisation of fares as the number of passengers increased due to improvement in services,” PR Chief Executive Officer Amir Ahmad Baloch says while talking to Dawn.
“Another major impact that surged the PRs income is the increase in the freight revenue that jumped to Rs28bn from Rs18bn,” he adds.
The PR was given a total revenue target of Rs73bn for FY 2023-24 but earned Rs88bn, including Rs47bn earned through sale of tickets. Moreover, the total income also includes Rs28bn from freight and Rs13bn from railway land leasing and other revenue streams.
The next fiscal year (2024-25) revenue target is more than Rs100bn, according to Mr Baloch. “The PR’s land-lease revenue will surely be increased by Rs10bn for FY 2024-25 as it remained Rs5.3bn this year. The new land-use rules facilitating the investors have also been approved.”
To a question, he adds that PR had increased passenger fares in 2022-2023 and no increase was made during FY 2023-24. He says the PR wanted to take its freight revenue target from Rs28bn to Rs35bn and hopes to achieve the target.
He says the number of passenger trains (up/down) in the system is 98 whereas the freight trains (up/down) are 60 or so.
To another question, Mr Baloch says the improved services included rehabilitation of passenger coaches, addition of new coaches, upgrade of dining cars, standard food serving, reasonable fares, upgraded passenger lounges etc.
“Recently we have opened air-conditioned washrooms at the Lahore Railway station,” he maintains.
SNGPL: The Sui Northern Gas Pipelines Limited teams disconnected another 32 connections, imposing Rs0.2m fine for gas pilferage and other illegalities on the consumers.
In Lahore, according to a spokesman, the team disconnected two connections for illegal use of gas while another 14 for use of compressors. In Multan, the team disconnected three connections for illegal use of gas while another two for the use of compressors. In Sahiwal, the company severed one connection on illegal use of gas.
Published in Dawn, July 1st, 2024
