Railways prepares plan to meet FY18 target
Minister claims revenues surged more than Rs20b during FY17
Minister claims revenues surged more than Rs20b during FY17. PHOTO: NNI
ISLAMABAD:
Pakistan Railways has experienced a surge in revenue of more than Rs20 billion while its deficit has reduced by Rs10 billion during the last four years along with improved services for the people, said Minister for Railways Khawaja Saad Rafique in a tweet on Saturday.
During the past four years, the minister said, Pakistan Railways exceeded its target set for each year and would set a precedent by achieving more than the benchmark of Rs53 billion earmarked for the current fiscal year.
Meanwhile, officails within the Ministry of Railways told APP that the state-owned entity has prepared a working paper about the targets set for the recently stared fiscal year (2017-18) along with comprehensive details of generating revenue through diverse measures to achieve it.
The sources further said that Rs53 billion had been the revenue target set for fiscal year 2017-18, which would be 33% higher as compared to the preceding fiscal year. The revenue target in the current budget is 94% higher as compared to the target set in 2013.
“Pakistan Railways will set the record of achieving highest ever revenue and its performance and services will further improve in the wake of effective reforms introduced in this sector,” the sources maintained.
Highlighting the various steps taken by the government to reduce the deficit of the department, the sources said passenger sector and freight sector earned billions of rupees due to the reforms inculcated by the present government in its tenure.
Published in The Express Tribune, July 2nd, 2017.
Pakistan Railways has experienced a surge in revenue of more than Rs20 billion while its deficit has reduced by Rs10 billion during the last four years along with improved services for the people, said Minister for Railways Khawaja Saad Rafique in a tweet on Saturday.
During the past four years, the minister said, Pakistan Railways exceeded its target set for each year and would set a precedent by achieving more than the benchmark of Rs53 billion earmarked for the current fiscal year.
Meanwhile, officails within the Ministry of Railways told APP that the state-owned entity has prepared a working paper about the targets set for the recently stared fiscal year (2017-18) along with comprehensive details of generating revenue through diverse measures to achieve it.
The sources further said that Rs53 billion had been the revenue target set for fiscal year 2017-18, which would be 33% higher as compared to the preceding fiscal year. The revenue target in the current budget is 94% higher as compared to the target set in 2013.
“Pakistan Railways will set the record of achieving highest ever revenue and its performance and services will further improve in the wake of effective reforms introduced in this sector,” the sources maintained.
Highlighting the various steps taken by the government to reduce the deficit of the department, the sources said passenger sector and freight sector earned billions of rupees due to the reforms inculcated by the present government in its tenure.
Published in The Express Tribune, July 2nd, 2017.