Pakistan Railways has suffered losses of over Rs100 billion during the incumbent government’s tenure from 2018-19, mainly owing to COVID-19, local media reported. According to the details shared before the National Assembly, the Pakistan Railways has suffered losses of more than Rs119 billion during the incumbent tenure.
In 2018-19, the train services suffered losses worth around Rs32.76 billion followed by an increase in losses to Rs50.15 billion, a document shared with the Parliament revealed.
It further highlighted that the first 10 months of the ongoing fiscal year have also witnessed losses of Rs36.28 billion.
The National Assembly was told that the number of trains has been reduced to 84 from 120 during the last two years. “Operations of 36 up and down trains were suspended owing to an increase in the deficit,” the ministry said while blaming COVID-19 for the operational losses of the railways.
The ministry further shared that offers have been extended to run 15 trains privately in order to get avail better business opportunities.
It is pertinent to mention here that Prime Minister Imran Khan was on March 15 briefed regarding the restructuring of Pakistan Railways including privatization of train services, Karachi Circular Railway (KCR), ML-1 and a freight corridor project.
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It was further briefed that in order to bring down revenue losses in Railways, four trains have already been privatized while work on privatizing 15 more trains is under process.
PM Imran Khan said that the restructuring of Railways was essential in order to lessen losses suffered by the department. “An improved railways will not only develop better transport facilities for masses but would help in easing traffic load and improving the economic condition,” he said.