Pakistan Railways Chairman Javid Iqbal has said Railways is facing severe financial crunch as its deficit has swelled to Rs 32 billion. It could only be brought out the prevailing crises with involvement of the private sector. While talking to media men at Railways Inspector General Office here on Thursday, the newly appointed Railways Chairman added that there was also a need to bring improvement in its management structure and operational upgradation.
"We have limited resources, Railways deficit has reached Rs 32 billion, and therefore I cannot give a time frame when this largest means of transportation would be back on track, Iqbal added. He said only freight service could bring the railways out of the deficit though there were also several other rooms for improvement. He said the railways had been facing an acute shortage of locomotives for last two years and the things were worsening day by day.
He further said that Pakistan Railways should work both as a public utility and commercial organisation. In response to a question he said that railways would improve itself with the passage of time. He said that no organisation could become profitable by selling its assets.
When asked about the increasing trend of closing trains operations at various routes by the railway management, the chairman admitted that the profitable trains should not be closed down. "Only 25 days earlier I took the charge, I need some time to understand the things, he added". He was recently informed about the closure of Shalimar Train which was earning about Rs 220 profit annually. He said he failed to understand such steps and had called for a report in this regard. Javid Iqbal said he would review the cases where senior officers were bypassed and juniors were appointed.