Pakistan Railways Sets Record Revenue in FY2023-24

Pakistan Railways Sets Record Revenue in FY2023-24

Nadia Nawaz | January 1, 2024 | 11:25 PM IST | Pakistan News, Travel, World | Follow on Google News

Pakistan Railways Sets Record Revenue in FY2023-24

Pakistan Railways Sets Record Revenue in FY2023-24

In a remarkable achievement, Pakistan Railways has witnessed a historic surge in revenue during the first half of the financial year 2023-24, reaching an impressive Rs 41 billion, as reported by ARY News. This significant increase, compared to the Rs 28 billion earned in the corresponding period last year, marks a pivotal moment for the railway sector in Pakistan. The CEO of Pakistan Railways optimistically stated that the launch of the ML1 project would further improve the situation.

Timely Salary Disbursements and Service Enhancements

Aamir Baloch, the CEO of Pakistan Railways, highlighted the positive developments within the organization, particularly the improved timeliness of salary disbursements for railway employees. This enhancement aims to minimize delays and ensure that payments are made promptly. Looking ahead, the CEO expressed the railway’s commitment to enhancing its services and expanding travel facilities for passengers. These efforts align with the broader goal of providing a more efficient and customer-friendly railway experience.

Right of Way (ROW) Charges and Revenue Generation

Last year, in December, Pakistan Railways implemented a significant increase in Right of Way (ROW) charges for single-track crossings, now standing at Rs. 3.8 million for five years.

This strategic move is expected to contribute substantially to revenue generation for the department. Historically, the charges underwent various adjustments, from Rs. 100,000 per track crossing for 10 years to Rs. 2.7 million for five years in 2007.

Notably, the PTI-led government in 2022 reduced the crossing charges to Rs. 600,000 per crossing for a lifetime to promote fiber broadband. This decision has sparked discussions on the contrasting charges for cable TV operators, who continue to pay only Rs. 100 per year.

Nadia Nawaz

Nadia Nawaz – a new journo in digital journalism covers stories, reports/articles from Pakistan. Nadia writes on various topics, include Politics, Economy,Sports and finance. she further holds a high head in field of graphic designing. Nadia can be reached on nawaznadia20@gmail.com