ISLAMABAD: Pakistan Railways has generated around Rs 10 billion revenue through special initiatives and projects initiated by the government which helped in reducing its annual deficit by Rs 4 billion.
The Ministry of Railways in its report said the additional revenue had helped in the absorption of Rs 6 billion additional bills in respect of the increasing cost of the fuel as well as pay and pension bill.
During the financial year 2018-2019, the earning of the department stood at Rs 54.59 billion compared to Rs 49.50 billion for the financial year 2017-18 which was the highest revenue ever achieved by the department said the Ministry.
The report said the annual deficit lowered from Rs 36.00 billion to Rs 32 billion. The revenue target has been increased from Rs 53 billion to Rs 58 billion in the last fiscal year, it added.
Up-till December 31, Rs 27,967.195 million has been earned against the budgetary target of Rs 27,499.967 million, the Ministry said.
In the freight business, the earning surged to Rs 10,285.466 million against a target of Rs 10,039.970 million up to December-2019, it said.
Pakistan Railways had completed several rehabilitation and development projects worth Rs 27,435.6 million during the last two years from August 2018 to 2020.
Elaborating, an official said, a project doubling of track from Khanewal to Raiwind-246 kilometers was carried out at a cost of Rs 14,261 million.
The other projects include mechanization of track maintenance (pilot project), rehabilitation of rolling stock and track, reopening of rail car from the Kohat-Rawalpindi-Kohat section, up-gradation of the VHF communication system for operational staff, rehabilitation/procurement of re-manufactured 300 traction motors and others, he added.
Pakistan Railways had added 24 new passenger trains in its train operations and all were refurbished locally at Lahore and Islamabad workshops.