MULTAN: General Manager Pakistan Railways, Anjum Pervaiz Wednesday said that the Railways was able to cut its deficit for the first time in last 40 years and earned record Rs 5 billion revenue in the outgoing fiscal year 2013-14 showing 100 per cent improvement in revenue compared to the target.
Briefing the media at Multan cantonment railway station after opening a renovated reservation office, he said last year was difficult for railways, however, prudent policies adopted by the incumbent government and its flawless implementation enabled Railways earn Rs 5 billion while chasing a target of Rs 2.5 billion.
It was for the first time that Railways achieved its revenue target and surpassed by 100 per cent it during last nine years, Anjum Pervaiz said.
He said a sum of Rs 40 billion had been allocated for railways for the fiscal year 2014-15 to bring improvement in Railways system to provide better and convenient travelling facilities to passengers.
He disclosed that 60 new engines would join the Railways fleet by December this year while tenders were being issued to acquire another 75 new engines with major emphasis on coal-powered engines.
He explained that 50 of them would be coal-powered engines of 4500 Horse Power, more powerful than the existing 3000 HP engines of Pakistan Railways.
He expressed the optimism that Pakistan Railways would be out of crisis situation by August 2014 with regard to upgraded facilities.
He added that passengers would be availing better travelling facilities during the upcoming fiscal year 2014-15 by virtue of addition new engines.
He told that a new train would soon operate from Hyderabad to Mirpur Khas and later a Night Train would be operated on Multan-Lahore route.
Anjum Pervaiz said the incumbent government had improved railways in a year only and that is why it would not be privatised.
He added that Railways Minister, Khawaja Saad Rafiq had already issued a statement in this connection.
He said problems of the Railways employees would be solved during the forthcoming fiscal year 2014-15.
He added that arrears would be paid to employees and new quarters would be built to provide them residential accommodation.
A sum of Rs 180 million had been allocated for Railways Multan division for the purpose, he added.
He said Railways would repair its main line-I from Karachi to Peshawar as part of initiatives for Pak-China Economic Corridor and added that work on it was expected to begin in March next year. He said MoUs had been signed for Pak-China Economic Corridor and a sum of Rs 380 billion would be spent with major focus on improving communications infrastructure ie rail and roads.
ISLAMABAD – The Ministry of Petroleum and Natural Resources on Thursday signed 70 ...