Khawaja Saad Rafique the minister of Federal Railways said on Tuesday that all available resources will be used to restore train operations in flood-affected areas while effectively investigating and viable the ministry’s revenue streams. He also said that all available resources will be used to restore train services in flood-affected areas, as well as effectively explore revenue streams for the sector to generate revenue.
Speaking at a press conference at the Pakistan Railways (PR) headquarters, he said efforts were being made to restore rail service in the country, especially in flood-affected areas. He added that the losses were estimated at around Rs 525 billion and railway workers are working day and night to minimize the losses.
The minister said the railway’s financial situation was in serious turmoil this financial year, saying that Pakistan Railways suffered a financial loss of over Rs 47.5 billion due to the acquisition of Pakistan Muslim League Navards (PML-N). added. However, in 2021-22 it generated a profit of around Rs 60 crore. He said diesel prices have risen abnormally. This is the main reason for the expansion of oil prices. He said railroad oil prices, which were around 20 billion rupees in 2021-22, will reach 36 billion rupees in 2022-23 and this trend will continue unless diesel prices drop.
Kh Saad Rafique said dollar volatility, oil prices and flash floods are the main challenges facing railways these days. He vowed that tools such as concerted effort, determination, and the department’s cost-cutting strategies would be used to pull the railroad out of the crisis. He added that the railway’s revenue could be about Rs 70 crore per annum through the commercialization of the railway’s real estate, and he could triple through the commercial development of the property.He said no rail property scandal has surfaced in the last decade it will introduce medium- and short-term property leasing to increase revenue for the sector and also ensure railroad country protection.
The minister announced that a private housing company would make a large deposit to take the road off the railway, the proposed housing company would have to deposit Rs 100 crore before constructing an underpass on the railway track and the He added that he would also be responsible for maintenance, fencing and cleaning. Facilities in the area of the housing association. He said freight rates should match the operating costs of railways and would be higher than before, but added that they would not match the costs of road transport. He argued that it was impossible to run a loss-making train.
He said the Quetta-Taftan international railway line was restored after being repaired after damage from floods and rains, and revenues from the Kueta-Taftan line would be spent on maintenance of the line and further development of the same line. added. To fill the budget gap, the railroad submitted an application to the federal cabinet to allow private companies to lay fiber optic lines along the railroad line, he said, adding a transparent and competitive infrastructure for that purpose. A bid was made, which could increase revenue, he added. of the railroad.