Pakistan Railways incur loss of Rs.20.6 billion in 7 months – Research Snipers

Pakistan Railways incur loss of Rs.20.6 billion in 7 months

Pakistan Railways informed National Assembly on Thursday that it suffered a loss of Rs.20.6 billion from July 2017 to January 2018.

Earlier MNA Sheikh Rohale Asghar asked Pakistan Railways questions about their daily losses, Pakistan Railways sent a written reply to the questions mentioning that PR losses were multiplied after July 2017, from Rs.403.4 million to nearly Rs.3 billion in August 2017, which jumped to Rs.3.41 billion in August just in two months, it continues to increase and reached Rs.4.3 billion in December 2017.

PR said the losses were the all-time high in January 2018 reaching Rs.3.2 billion. Pakistan Railways had a budget of Rs.90 billion for the fiscal year 2017-18 out of which Rs.56 billion was only spent on salaries and pensions of the employees. NA members were informed that the expenses could be controlled to some extent by generating additional revenues and controlling expenses that are not directly related to trains operations such as TA/DA and utilities.

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However, the remaining amount of the budget Rs.34.2 billion was spent on other expenses, out of which Rs.13.4 billion was allocated for operational fuel during the current fiscal year, this expense was also uncontrolled due to changing fuel prices.

Responding to the questions parliamentary secretary for Railways Raja Muhammad Javed Ikhlas said the government has plans to invest in PR under China-Pakistan Economic Corridor (CPEC) Project.