Pakistan Railways made more than Rs. 28 billion in the first half of FY23

Pakistan Railways saw revenue of Rs. 28.263 billion and expenses of Rs. 52.990 billion in the first half of the current fiscal year (July-December)

According to the Ministry’s data, Pakistan Railways nevertheless generated Rs. 28.263 billion in revenue from its operations between Jan. 1, 2022, and Dec. 31, 2022. A total of Rs. 52.990 billion was spent within the same time period.

Pensions account up 35% of overall spending, while salaries make up 33%. A grant in aid of Rs. 21.750 billion was given to Railways by the Federal Government within the same time frame, from July to December 2022. The documents said that Rs. 2.977 billion was the net deficit for the months of July through December.

Investment in train infrastructure and rolling stock has been neglected for many years. The budgetary requirements of Pakistan Railways have been negatively harmed by this neglect.

The severe floods caused by climate change that devastated the already deteriorated infrastructure during the first part of the current fiscal year 2022–23 brought PR more terrible news. Due to the fact that train operations were suspended for almost 35 days, PR not only lost out on money, but was also forced to use even more of its limited resources to restore rail service. Due to the delayed payments of salaries and pensions, this negatively impacted PR’s whole financial system and, as a result, the country’s workforce and pensioners.

In spite of its limited resources, Pakistan Railways is making every effort to become a profitable company. It has created a two-pronged strategy for action.

1) Focusing on essential tasks.

2) A focus on generating revenue through non-core activities.

Written by Aly Bukshi

The editorial staff at IPIN is a team of news publishing experts led by Aly Bakshi. We publish interesting and informative news/articles all over the world. Our aim is to provide readers with the latest and most up-to-date information possible.