Federal Minister for Railways Haji Gulam Ahmad Bilour has revealed that Pakistan Railways is facing a deficit of Rs 28 billion while over-draft has also been rapidly increased in the current fiscal year form Rs 23 billion to Rs 28 billion.
While addressing a press conference here on Thursday, he said that Pakistan Railways had to bear additional expenditures of Rs 5839 millions on account of various heads during the last four months that was the main reason of rapid increase in overdraft.
He said that despite the unsatisfactory financial condition, the present government would bring revolutionary changes to reduce deficit. Besides, steps would also be taken to enhance Railways' income, which would help stabilise financial position. He said that the increase in salaries and pension, in line with the government decision, augmented the financial burden.
The Railways had to bear additional expenditures of Rs 609 million and Rs 291 million on account of increase in the salaries and pension, respectively. "Pakistan Railways had to pay additional Rs 2000 million to different companies on account of oil, diesel and lubricant purchase mainly because of rising oil prices in the international markets.
The Minister further disclosed that the Pakistan Railways had to pay Rs 1206 million only on account of mark up on loans to various banks. He said that because of financial constraints, Pakistan Railways could not pay various outstanding amounts of Rs 1658 millions.
These outstanding payments were made during the current year that caused a dent to the financial position of Pakistan Railways, he added. Pakistan Railways has to bear addition burden of Rs 75 million because of the dollar's appreciation in the local market.
"We have decided to focus on the freight sector instead of passenger to enhance the income of the organisation but it does not mean that passengers will be ignored. Pragmatic arrangements will be made to facilitate the passengers" he observed. All the trains should be run according to the timetable and in this regard no accuse or negligence will be accepted.
He further said that eatable items would be provided to the passengers at reasonable rates and no compromise would be made on their quality, he added.He said the trains' departure and arrival schedule would be computerised so that the passengers could be provided accurate information.
He said that reservation system would be further strengthened to save the passengers from black marketing of tickets. The numbers of trains will not be decreased rather the number of Bogies will be increased to generate additional income, he added. Special directions have been issued to make the railway journey more safe and sound and in this regard stern action would be taken against the officers involved in negligence he added.
He said that 60 percent assets of the Pakistan Railways like rail track, signals, bridge engines, bogies had completed their life and it would be first priority to replace them to accelerate the performance of the organisation he added.
Jadim Mankariu, State Minister for Railways, Nauman Islam Sheikh Parliamentary Secretary, General Manager Operation Syed Nasir Zaidi, General Manager Welfare and Training Farooq Aziz, Member Finance Jangeer Aziz, Federal Inspector Railways Saeed Akthar, IG Pakistan Railways Police Mirza Muhammad Ali and other high officials were also present on the occasion.